In the recent rally of Bitcoin (BTC) and altcoins, some altcoins have outperformed others in terms of their price increase. XRP was undoubtedly one of these altcoins.
During this rally, XRP investors also made significant profits. According to Coindesk, one investor took advantage of XRP’s 26% surge on Tuesday and used 500x leverage to buy $2,500 worth of XRP.
By utilizing this leverage, the investor managed to turn their initial investment of $2,500 into $200,000 by purchasing XRP futures on the cryptocurrency exchange Rollbit.
The investor made a smart move by opening a position with 500x leverage when the XRP price was trading below $2. However, it was a risky move because if the XRP price dropped below $1.90, the entire position would have been liquidated.
Fortunately, the investor’s risk paid off. As the price of XRP continued to rise, the investor gradually closed their position between $2.13 and $2.29, ultimately earning a return of approximately 7,500%.
At the time of writing, XRP has experienced a 7.7% increase in the last 24 hours and has maintained its separate trajectory from the rest of the market. It is currently being traded at $2.36.
Please note that this translation is not intended to serve as investment advice.
