Xrp is leading the pack of altcoins, outperforming many of its peers in the wake of $500 million in crypto liquidations. This is a significant development, as it suggests that Xrp's market is more resilient than some of the other alternative cryptocurrencies out there.
According to recent data, Xrp's price has increased by 10% over the past week, while other altcoins have seen significant declines. This is a stark contrast to the broader crypto market, which has seen over $500 million in liquidations.
The crypto market's recent downturn has been attributed to a combination of factors, including a decline in investor sentiment and a rise in interest rates.
Intriguing read: Ge Aerospace Has Risen during the Recent Market Slide.
XRP and DOGE Lead Crypto Losses
XRP and DOGE led crypto losses as the weekend pullback in Bitcoin caused a significant market downturn.
XRP fell more than 5% to lead losses among majors.
DOGE also fell more than 5% alongside XRP.
This sharp decline in XRP and DOGE was part of a broader market sell-off that saw the overall market capitalization fall 2.4%.
Explore further: Fda Firings Doge
The CoinDesk 20, a broad-based liquid index tracking top tokens, is down 1.48% in the past 24 hours.
Crypto-tracked futures took a beating with over $500 million in liquidations on both longs and shorts amid the volatility.
Over $366 million in longs, or bullish bets, were evaporated, Coinglass data shows.
Featured Images: pexels.com
