🔥 TERRA (LUNA) UP 111% WTF CAN IT RECOVER? | RIPPLE (XRP) CASE OVER IN SEPTEMBER 2022 | ETH MERGE 🔥

🔥 TERRA (LUNA) UP 111% WTF CAN IT RECOVER? | RIPPLE (XRP) CASE OVER IN SEPTEMBER 2022 | ETH MERGE 🔥 - In this video, we discuss XRP News today, crypto news today, and more. - In this video, we discuss XRP News today, crypto news today, and more.
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The LUNA price has now hit the $0.0003 – $0.0005 levels, an over 1000% pump in 24 hours.
The current 2022 Terra (LUNA) price low was $0.00000112, on the LUNA/BUSD pair, which was hit after Binance delisted the LUNA/USDT trading pair and all futures trading pairs.
Binance has resumed spot trading for LUNA and risk warning messages are displayed on the exchange.

Other crypto platforms are yet to relist LUNA, leading to an increase in trading volume on Binance with investors buying stablecoin BUSD (Binance USD) to then buy LUNA with.

Some investors will be FOMO’ing in to an asset with such a high 24 hour change percentage in the green, however that is still small relative to how low Terra LUNA crashed in May.

At one point the LUNA price pump was +2000%, hitting a current intraday high of $0.000595, then quickly retraced over 50% of that move before bouncing.

Many buyers that entered too early during the LUNA drop will be looking to exit their position at break even and ‘dump their bags’ – market conditions are still volatile, especially with Bitcoin moving back below $30,000 after a short-lived recovery over $30,500.
The current 24 hour LUNA trading volume on Binance is about to break 450 billion BUSD.

One reason for the LUNA pump could be it is now more difficult to short LUNA as margin trading (perpetual futures) was suspended by crypto exchanges and not yet relisted, including by Binance Futures and derivatives platforms FTX and Crypto.com.

The absence of shorting makes it easier for LUNA to go up in value as short positions borrow large amounts of an asset in order to then short sell it at a given price.

Another possible reason why LUNA is pumping is CEO of Terraform Labs Do Kwon finally broke his long silence to update investors and announce what action Terra is taking to recover LUNA, including their latest UST recovery plan (TerraUSD).

The cryptocurrency markets also have much lower liquidity on weekends when legacy markets are closed, leading to more crypto price volatility in either direction – meaning large wicks to the upside and downside. At one point the LUNA price wicked to 0.002 BUSD, after a large market buy.

Enjoy the video! Stay safe everyone. LET'S GO!!!!!
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HASHTAGS #terraluna #xrp #crypto
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