XRP bounces 7% to $1.39 after CFTC rule filings
- —XRP trades at $1.39, up 7% in 24 hours, range $1.29–1.40
- —CFTC sent two rules to OIRA: Regulation Crypto Asset Transactions and Markets
- —$470 million in shorts were forcibly closed market-wide in 24 hours
- —XRP's market cap is about $87 billion, more than 60% below its $3.65 high
Why it matters: The bounce rests on short covering rather than sustained demand: without new buying, XRP may fail to hold $1.40.
Source: CryptoTicker