TL;DR
- The crypto market took a nosedive, and poor little XRP wasn’t spared from the chaos.
- XRP plummeted to its lowest point this week, and over $60 million worth of bets went up in smoke-mostly those silly longs.
In the ever-changing world of digital assets, 12 hours can feel like a lifetime. Just this morning, XRP was basking in the glow of success, floating comfortably above $3.30. Everyone was talking about how it might hit a new all-time high of $3.65. It was all very exciting, you know, until reality set in.
Then, the US government decided to drop a bombshell: inflation data showed a spike not seen since June 2022. It was like someone flicked a switch, and suddenly, the market went from sunny skies to a full-blown storm. XRP, which had already dipped below $3.25, took another nosedive. The bears were out in full force, pushing XRP down to a weekly low of $3 on Bitstamp and other exchanges.
But wait, there’s more! Despite a small bounce back to $3.10, XRP is still down 4% in the past hour and over 5.5% for the day. If you’re an XRP trader, you might want to sit down for this: CoinGlass data shows that over $60 million in trades have been wiped out in the last 24 hours, with longs taking the brunt of the losses-over 92% of the total carnage.
And just to add insult to injury, the total value of liquidations has soared above $1 billion, with ETH and BTC leading the charge with their own massive losses. But hey, at least we have something to talk about at the next cocktail party, right? 🥂
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2025-08-14 17:04