XRP Price Drops Despite New ETF Launch

Despite excitement surrounding the launch of the 21Shares XRP ETF (TOXR), XRP price saw a significant dip today, falling by nearly 7% in the last 24 hours. The decline was sharp and occurred without any major market-moving news catalysts. Market volatility remains high as seen by over $400 million in long positions being liquidated within the past hour. This highlights the increased risk for traders who hold leveraged positions during periods of low liquidity.