$XRP

Trader turns $2,500 into $200,000 by buying XRP with 500x leverage on Rollbit

XRP surged 26% during trading hours in the United States after Ripple Labs, the company behind XRP, received "final" approval from regulators to offer the stablecoin RLUSD in the U.S.

The savvy trader opened a position worth $2,560 when XRP was trading at $1.9025, and the leverage meant the position would be liquidated if the price dropped below $1.9004. The position was gradually closed between $2.13 and $2.29, realizing an actual profit of around 7,500%.

XRP is trading at $2.34 as it continues to outperform the broader market. TradingView data shows it has increased by 301% over the past 30 days.

It is important to note that trading with 500x leverage is a very high risk as the volatile nature of cryptocurrencies means that positions will be liquidated most of the time.