XRP token grew by 30% per day

The XRP $2.55 XRP -1.28% Market capitalization $147.85 billion VOL. 24 hours $0.22 billion exchange rate rose by 30% on the morning of Tuesday, February 4. This happened after a large-scale collapse of the crypto market caused by Donald Trump’s announcement of tariffs on Canada, Mexico, and China. Despite the negative sentiment among investors, the rise in quotes may help the token return above the psychological level of $ 3.00.

Over the past three days, XRP investors have recorded a profit of almost $ 2 billion, which is one of the largest figures in the history of the asset. The sales were driven by the activity of whales transferring large amounts of money, as well as a drop in the Weighted Sentiment indicator, which reached its lowest levels since November.

The XRP futures market also felt the effects of the fall, with $ 103 million worth of positions liquidated over the past day, a record high in the current market cycle. The total volume of open contracts decreased from 2.05 billion XRP to 1.50 billion XRP, which indicates investor caution.

At the moment, XRP is trying to recover and break through the $ 3 level. If this happens, the token could test the seven-year resistance level of $ 3.4. Further growth above this level will open the way to a new all-time high of over $ 3.55.

However, analysts warn that maintaining the bullish trend will depend on overcoming the downtrend line that has been in place since January 16. If XRP closes the day’s session below $ 1.96, it could lead to a new wave of selling.