🌋 Trader Strikes It Big: $2,500 Becomes $200K in Hours
posted 11 Dec 2024
One Rollbit platform user took a chance with a 500x leveraged long position on XRP. Their $2,500 turned into $200,000 thanks to a 26% price spike. Talk about high-risk, high-reward!
It was a close call: the position nearly hit liquidation before XRP staged a dramatic comeback. We’ve all had moments like this, haven’t we? Let’s save the stones for another day.
The trader appeared to have their finger on the pulse, catching news of Ripple Labs’ final regulatory approval to launch the RLUSD stablecoin in the U.S. This announcement gave XRP a much-needed boost.
Wasting no time, they opened a $2,560 position at $1.9025 per XRP. The stakes were high—any drop below $1.9004 would have spelled liquidation. But luck intervened. The position was closed in stages between $2.13 and $2.29, netting a staggering 7,500% profit.
Could this trader already be test-driving a second-hand Lamborghini? It wouldn’t be a stretch.
Currently, XRP is sitting at $2.50, enjoying a 301% spike in the last 30 days. Rollbit’s XRP market alone recorded a staggering $186 million in trading volume over the past 24 hours.
XRP Token Price Chart. Source: TradingView
However, attempting such risky trades isn’t advisable. A 500x leveraged position is incredibly precarious—crypto volatility ensures liquidation in 90% of cases.
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