The market has suddenly crashed today, resulting in billions worth of liquidated leveraged positions. This comes on the back of Bitcoin’s price plunging toward $25K and many other cryptocurrencies following suit.
Ripple’s XRP has seemingly had it the worst. It’s down over 15% in the same period, and now it might even be in for more trouble.
- Ripple’s XRP has crashed by more than 15% in the past 24 hours alone, leaving over $50 million worth of liquidated leverage positions, according to data from CoinGlass.
- But it seems that the altcoin might be in for more trouble.
- The well-known whale transaction tracking resource Whale Alert has flagged a massive transaction of 150 million XRP sent to the largest Korean exchange – Bithumb.
- It’s important to note that this doesn’t necessarily mean that there’s a crash incoming.
- However, more often than not, investors send their cryptocurrency to an exchange with the intention to sell rather than hold.
- This particular transaction saw the transfer of almost $80 million worth of XRP – a formidable amount.
SPECIAL OFFER (Sponsored) Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.