A trader made a significant profit by buying XRP futures with 500x leverage on cryptocurrency exchange Rollbit. XRP's value increased by 26% after Ripple Labs received regulatory approval to offer a stablecoin in the US. The trader opened a position worth $2,560 and gradually closed it between $2.13 and $2.29, resulting in a realized return of approximately 7,500%. XRP has been outperforming the wider market, surging by 301% in the past 30 days. However, trading with such high leverage is extremely risky, as most positions are likely to be liquidated, given the volatile nature of cryptocurrencies. Rollbit's XRP market has seen $186 million worth of volume in the past 24 hours and provides up to 1000x leverage.



Other News from Today