What short squeeze? Here’s what is really behind XRP’s recent 170% rally By Cointelegraph

What short squeeze? Here’s what is really behind XRP’s recent 170% rally
What short squeeze? Here’s what is really behind XRP’s recent 170% rally

Between Jan. 30 and the early hours of Feb. 1, price pumped 147%, reaching $0.76 which is its highest level in two months. The move seems to have been fueled by r/Satoshistreetbets, an off-shoot of r/Wallstreetbets.

It seems that speculative social media group-based investing is becoming a trend so let’s take a look at what triggers might have catalyzed the recent surge in XRP price.

XRP Twitter activity vs. Price. Source: TheTie
XRP Longs vs. Shorts. Source: Bitfinex
XRP aggregate futures open interest. Source: Bybt.com
XRP aggregate futures open interest. Source: Bybt.com
Sub-$10 coins. Source: Livecoinwatch.com

Continue Reading on Coin Telegraph

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.