In the recent rally of Bitcoin (BTC) and altcoins, certain altcoins have outperformed others in terms of their price surge. Among them, XRP has undoubtedly stood out.
During this period, XRP investors have also made significant profits. According to Coindesk, one investor capitalized on XRP’s 26% increase on Tuesday and purchased $2,500 worth of XRP futures with 500x leverage on the cryptocurrency exchange Rollbit.
Consequently, this investor managed to turn their initial $2,500 investment into $200,000. They opened a position with a leverage of 500x, amounting to $2,560, when the price of XRP was trading below $2.
It is important to note that if the price of XRP had fallen below $1.90, the entire position would have been liquidated. However, the investor who took this significant risk ended up being successful rather than suffering losses. As the price of XRP continued to rise, the investor gradually closed their position between $2.13 and $2.29, resulting in an approximate return of 7,500%.
As of the time of writing, XRP has experienced a 7.7% increase in the last 24 hours and has deviated from the overall market trend. It is currently being traded at $2.36.
*This article does not provide investment advice.
