"Today cryptocurrency XRP fell 6% as tariff saber-rattling between China and the United States sent a shot of volatility through the market. This follows on the most recent October 10th flash crash just a few days ago that rocked all of the entire crypto markets and wiped out billions in assets. Some estimates have the wipeout at $19b in a single day, but with reports of individual traders losing $200m the losses could be even higher."
"XRP's Sudden Dive Despite its reputation as a stable, 'blue-chip' crypto, XRP is not free from this volatility. The coin is priced at $2.49 today, down more than 20% in just the last month. It's the 5th largest crypto by market cap, with a valuation of $148b, so a 20% crash represents ~$37b is destroyed valued in just the past month."
"However, some perspective is needed. Zooming out a year and XRP has increased 367%. So the magnitude of this 'crash' and the reputations as a stable coin needs to be checked. The Three Things That Matter Today First, today and the most recent flash crash are stark reminders for how volatile cryptocurrencies like XRP can be. Owning them on leverage only magnifies this movement, and risk."
XRP dropped 6% today as tariff saber-rattling between China and the United States increased market volatility. A recent October 10th flash crash rocked crypto markets and wiped out billions, with some estimates at $19b and reports of individual traders losing $200m. XRP trades at $2.49, down more than 20% over the last month. As the fifth-largest crypto by market cap at $148b, a 20% decline equates to roughly $37b in lost value over the month. Over the past year XRP has risen about 367%. High short-term volatility, amplified by leverage, contrasts with substantial long-term gains when held responsibly.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]