$XRP
has surged by 12.13% over the past 24 hours, reaching a price of $0.7971, and showing massive upward momentum. However, the rapid rise in price has led to significant liquidations across both long and short positions, raising concerns about potential strain.

Key Insights:

Total Liquidations in the Past Hour: $1.32 Million

Total 24h Liquidations: $19.96 Million

Long Liquidations: $10.86 Million

Short Liquidations: $9.11 Million

Despite the volatility and liquidation split, XRP is still seeing impressive growth, with its price recently surpassing $0.80—the highest it’s been in 52 weeks. This rally highlights XRP’s potential in the ongoing bull market.

Has XRP Hit Its Peak?

While XRP has made significant gains, some analysts believe it might have reached its top for the time being. Its lower volatility compared to other assets and the uncertainty surrounding the ongoing Ripple v. U.S. SEC lawsuit are key factors to consider.

What’s Next for $XRP ?

Whales continue to show confidence in XRP, but uncertainty remains around the legal landscape.

Traders might want to look to other assets like Bitcoin (BTC), Ethereum (ETH), or Solana (SOL) for potentially less risky investments with strong growth forecasts.

Key Considerations:

$XRP Volatility: Is this the peak or just a temporary pullback before another breakout?

Legal Challenges: The ongoing Ripple v. SEC lawsuit still casts a shadow on XRP’s future.

For those holding XRP, stay informed and keep an eye on the market as volatility continues to shape the trend. 🚀💥

(Monday 12 August 2024, 07:44 AM GMT):
Today, the cryptocurrency market is painted in red, with major memecoins experiencing significant downturn. The total memecoins market cap has dropped by 8.25% to $37.4 Billion in the past 24 hours. Bitcoin (BTC) has led this downward trend, plummeting from $61,868 to the current price of $58,743 which is down by 4.18% in the past 24 hr.
Here's a closer look at the performance of some popular memecoin of last past 24 hours:
Pepecoin (PEPE) is down by 7.39%.Dogwifhat (WIF) is down by 6.91%.Bonk (BONK) is down by 6.53%.

Source: Coinmarketcap
Memecoins Liquidations Data:
In the past 24 hours, memecoins led significant Liquidations are as follow:
1) Pepe $PEPE Liquidation Data:
Significant liquidations occurred in PEPE, particularly in long positions. A total of $2.26 Million was liquidated, including $1.83 Million in long orders and $0.43 Millions in short orders.

Source: Coinglass
2) Dogwifhat $WIF Liquidation Data:
WIF also saw significant liquidations, mainly in long positions. The total liquidation amounted to $1.45 Millions, with $1.12 Million in long orders and $337K in short orders.

Source: Coinglass
3) Bonk $BONK Liquidation Data:
BONK experienced notable liquidations, especially in long positions. The total liquidated value was $159K consisting of $155K in long orders and $3524 in short orders.

Source: Coinglass
As of now, investors should focus on the Bitcoin (BTC) chart; if it takes a pullback from here, we will see another recovery in the prices of memecoins.

Disclaimer: This article is for informational purposes only and does not constitute financial advice.

#Memecoins #pepe⚡ #LiquidationData