Since Ripple XRP’s price action is of major concern across the crypto community, things are not that rosy based on the liquidation heatmap.
This is because XRP might drop below the psychological threshold of $0.5 and hit $0.46, according to renowned crypto educator Cryptoinsightuk.
Source: Cryptoinsightuk
The liquidation heatmap visualizes the concentration and volume of liquidation in a particular market. As a result, it plays an instrumental role in showing high liquidation areas where an asset’s price faces significant pressure.
With $0.48 in the red zone, this suggests that XRP might face major sell-side liquidations at this level, which is bearish since it might trigger further downside pressure.
Given that XRP’s price continues to be confined to the $0.52 area, the seventh-largest cryptocurrency has lacked bullish momentum to exit this zone.
Therefore, XRP’s worrying price action amid regulatory uncertainty recently made a crypto pundit acknowledge that XRP was behaving like a stablecoin based on its price stagnation, which has lasted for more than two years.
U.S. Merchants Get a Major Crypto Boost
Payment giant PayPal Holdings recently made a strategic move to enable merchants on American soil to sell, buy, and hold digital assets directly from their PayPal business accounts.
Welcoming this move, PayPal’s senior vice president, Jose Fernandez da Ponte, pointed out, “Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We’re excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly.”
This development is expected to enhance crypto adoption in the U.S. since the merchants will also be provided with an innovative feature enabling them to send and receive crypto from third-party wallets.
