LRC Price Jumps 9%, Can It Break Above $0.1022?

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LRC+9.59%

LRC price posted a strong 9.21% overnight run, to trade at around $0.09951. The token’s market cap rose to $136.01 million, while trading volume hit $33.9 million. That being said, Loopring price ranged between a 24-hour low of $0.09082 and a high of $0.1178, signaling rising volatility as traders react to fresh momentum shifts.

Why is Loopring Price Going Up?

On August 8, Binance reduced LRC’s collateral ratio from 40% to 25% for portfolio margin users. This change allows traders to borrow more against their LRC holdings, boosting liquidity and speculative leverage. The policy shift came alongside a massive 2362% surge in trading volume to $337 million.

Looking forward, I am confident that derivatives market data, especially the open interest trends on Binance, will be crucial. That being said, maintained buying pressure in leveraged positions may help LRC overcome near-term resistance levels. However, the overbought RSI signals the possibility...

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