As a seasoned crypto investor with a knack for spotting trends and a touch of humor, I find the recent surge in XRP and XLM prices nothing short of exhilarating. Having been through the rollercoaster ride that is the crypto market, I’ve learned to expect the unexpected, but these gains are certainly eye-popping, even by our standards!
XRP’s 11% jump in just 24 hours is impressive, especially considering it’s outperforming Ethereum. And let’s not forget about XLM, which has gone from zero to hero with its staggering 100% increase in the same timeframe. It’s like watching two racehorses charging towards the finish line, each vying for the lead.
The fact that over $7 million worth of XRP shorts have been liquidated in a day is a testament to the market’s volatility and the risks involved in shorting cryptocurrencies. It’s a lesson learned the hard way for some, but a reminder to always stay nimble and adaptable in this fast-paced world of digital assets.
Now, as for XLM’s performance, it seems that Stellar, created by Ripple‘s co-founder Jed McCaleb, is proving that they can stand on their own two feet, even if they share a common history with XRP. As reported, they may have different features and consensus mechanisms, but to me, it’s like comparing apples and oranges – they’re both delicious!
Lastly, other altcoins are also joining the party. Algorand, Hedera, and Cardano are all showing impressive gains, making it a banner day for crypto investors. It seems that the market is on a roll, and I can’t help but wonder if we’re witnessing the dawn of a new bull run.
And to lighten the mood, let me leave you with this: They say the best things in life are free, but the second-best thing is watching your crypto portfolio grow!
As a researcher exploring the dynamic world of cryptocurrencies, I’ve observed an impressive surge in the value of XRP – one of the major players in the market. Over the past 24 hours, data from a reliable source like CoinGecko reveals that this digital currency has experienced a jump of over 11%. This upward trend is certainly intriguing and warrants further investigation to understand the underlying factors driving this growth.
Indeed, among all the cryptocurrencies, it stands out as one of the top performers, surpassing the returns seen in well-known alternatives like Ethereum.
This cryptocurrency, which has been leading throughout the final three months of the year, has just reached its highest annual closing point for 2020, as per U.Today’s reports, in the month of December.
Approximately $7 million dollars’ worth of XRP short positions have been closed in a 24-hour period, as indicated by data from CoinGlass. OKX, Binance, and CoinEx are the exchanges with the highest volume of liquidated cryptocurrency. Short positions make up almost 80% of the total loss.
XLM’s eye-popping gains
Still, XRP’s gains pale in comparison to those recorded by Stellar (XLM).
Over the last 24 hours, Stellar Lumens (XLM) has outshone other tokens in the top 100, experiencing a remarkable surge of over 100% growth.
The two tokens tend to move in tandem since investors tend to put them in the same mental basket.
Stellar was, of course, created by Ripple co-founder Jed McCaleb.
According to U.Today’s report, McCaleb has clarified that Stellar Lumens (XLM) and Ripple (XRP) are fundamentally distinct. Each token boasts unique characteristics and operates through separate consensus mechanisms.
Other top performers
Apart from XRP and XLM, several other altcoins have also secured impressive gains.
Algorand (ALGO) is up by more than 13% while Hedera (HBAR) is up by more than 9%.
Cardano (ADA) is also among the best-performing tokens over the past 24 hours.
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2025-01-02 00:03