Data suggests traders in Korea played a big role in buying the XRP dip below $2.
XRP (XRP) price has maintained a position above $2 this week, thanks to traders bidding on the altcoin during the recent correction. Investors on the Korean exchange Upbit, and Bybit took advantage of the crash, accumulating significantly as indicated by the rising CVD value.
XRP CVD chart for Bybit during the Feb. 3 crash. Source: X.com
XRP was one of the crypto assets that dropped significantly during the recent correction, flashing a low of $1.78 on Feb. 3 from a high of $3.08 on Feb. 1. However, the altcoin managed to close firmly above the psychological level of $2. An anonymous market analyst, ltrd, pointed out that Korean traders were potentially responsible for XRP’s swift recovery.
Read more,# Crypto Comeback: The Role of Korean Traders in XRP’s Rebound
## Key Points from the Article
– **Recent Price Activity:** XRP managed to maintain stability above $2 after a huge dip that saw prices fall to $1.78 from $3.08.
– **Korean Influence:** Traders from the Korean exchange Upbit, and also Bybit, seized the opportunity during the price drop, which contributed significantly to the recovery.
– **Volume and Data Insights:** The increase in Cumulative Volume Delta (CVD) on exchanges like Bybit during the crash suggests heavy buying activity among traders.
– **Market Analyst Input:** An anonymous analyst, ltrd, highlighted the pivotal role of Korean investors in bolstering the XRP market during the downturn.
## Closing Hot Take
Ah, the world of cryptocurrencies, where a dip is just another excuse for a shopping spree! It looks like Korean traders snagged a Black Friday deal with XRP under $2. Next time, instead of lamenting over spilt milk—or in this case, dipping coins—perhaps joining the savvy investor crowd with a digital shopping cart might not be too shabby. 💸 #CryptoShoppingSpree #XRPComeback #KoreanInfluence
