Why is the Ripple (XRP) Price Down Today?

The broader cryptocurrency market saw its worst deleveraging events in history throughout the past 24 hours. Ripple’s XRP didn’t go ￰0￱ fact, it was one of the altcoins that painted massive red wicks, dropping to as low as $1.2 on the Binance perpetual contracts charts. That’s a 60% drawdown, which, not surprisingly, had a lot of traders ￰1￱ much so that, in fact, almost $1 billion worth of leveraged positions were wiped out in the past 24 ￰2￱ is the XRP Price Going Down? While reasons remain unclear and speculative at best, the fact is that the total cryptocurrency market went through arguably its worst crash in ￰3￱ CryptoPotato reported , close to $20 billion worth of leveraged positions were liquidated in the past hours, as Bitcoin’s price dropped from more than $122,000 to $105,000 on some crypto exchanges.

Naturally, and as it’s almost always the case, altcoins had it ￰4￱ it or not, XRP wasn’t even amongst the worst performers. ATOM, for instance, saw close to 99% of its spot value deleted before bouncing ￰5￱ also bounced back and is currently trading at around $2.4 on Binance.) Price Down Today? appeared first on CryptoPotato .