• rippleXRP$1.33-2.56%

XRP Soars, Bitcoin Rollercoaster, eToro Down, India Crypto: Editor’s Pick – Finance Magnates

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In another rollercoaster of a week in the crypto world, let’s take a look back at the news that dominated the forex, fintech and crypto spheres in our best of the week segment.

XRP Price Jumps 25% within 30 Minutes

The trading week kicked off with the news that XRP price gained significant value, posting a 25% jump within just 30 minutes during the Asia session on Monday.

XRP jumped from $0.52 to $0.65 early on Monday after massive demand from retail investors. This meant that XRP has now erased all the losses it occurred after the SEC’s lawsuit against Ripple in December 2020.

Read more on the XRP price jump here.

Bitcoin Facing Liquidity Crisis, Says JPMorgan Strategist

While Bitcoin, the world’s largest cryptocurrency jumped above $58,200 on Monday with the total market cap of BTC touching $1.1 trillion, JPMorgan warned about its liquidity.

According to a note by JPMorgan’s Strategist, Nikolaos Panigirtzoglou, the market liquidity in Bitcoin is significantly lower than S&P 500 and gold. He added that even a small change in Bitcoin flows can have a large impact on the price of BTC.

Read more on the JPMorgan Bitcoin liquidity warning here.

UK Broker Trading 212 Suspends Trading in Penny Stocks

Finance Magnates reported on Monday that Trading 212 suspended trading in microcap penny stocks, which attracted the attention of both regulators and amateur investors over the past two months
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