Key Points:

• A trader turned $2,500 into $200,000 by trading XRP futures with 500x leverage on Rollbit.
• The asset surged 26% during U.S. trading hours after Ripple Labs received final regulatory approval to launch the RLUSD stablecoin in the U.S.

Detailed Analysis:

On Tuesday, a trader capitalized on a bullish market for XRP, buying into the altcoin at $1.9025. The amount of leverage used meant the position could have been liquidated had the price dipped below $1.9004. Their profits were realized between prices of $2.13 and $2.29.

Currently, XRP is quoted at $2.34, reflecting an extraordinary 301% increase over the past month, outperforming other cryptocurrencies. However, such high levels of leverage pose significant risks, as many traders often face liquidation due to volatility. The XRP market on Rollbit has seen a trading volume of $186 million in the past 24 hours with leverage options extending up to 1000x.