XRP has seen some incredibly bullish price action over the past couple of days, with the crypto’s recent break above $0.30 leading it to incur significant buying pressure that propelled it up to highs of $0.33.
This intense volatility is part of the reason why active traders flock to the crypto market in droves, but a flaw on one of the top trading platforms allowed XRP to see some anomalous price action that led it to plummet towards $0.12.
This drop led some traders using the platform to reportedly see major losses due to their long positions getting liquidated.
XRP Plummets to $0.12 on BitMEX in Massive Anomalous Move
At the time of writing, XRP is trading up 10% at its current price of $0.326, which marks a notable climb from daily lows of $0.286 that were set just prior to the sharp upwards movement it saw yesterday evening.
After rising to highs of $0.33 yesterday evening, the cryptocurrency faced a slight rejection that led it down to lows of $0.30 overnight, from which it has since recovered.
Importantly, however, this overnight dip cut significantly deeper on BitMEX, with the platform’s XRP/USD trading pair seeing a massive anomalous drop that led it to lows of just over $0.12 in a single one-hour candle.
Galaxy, a prominent cryptocurrency analyst on Twitter, spoke about the drop in a recent, pointing to a chart showing the massive decline seen on the platform.
“XRP USD went as low as 0.13 on Bitmex,” he noted while referencing the chart seen below.
$XRP USD went as low as 0.13 on Bitmex.
Crazy shit. pic.twitter.com/w86sNLwOhg
— Galaxy (@galaxyBTC) February 13, 2020
Investors Fret After the BitMEX Drop Sparks Liquidations
Platforms like BitMEX do implement safeguards in order to protect their clients from these types of movements, with BitMEX’s “Fair Market Pricing” being built in order to stop manipulation or illiquidity from sparking liquidations of open positions.
Despite this, altcoin trading pairs like XRP/USD on platforms like BitMEX are notoriously illiquid and are far more prone to seeing anomalous movements than Bitcoin is.
One user on Twitter named Marc de Koning claimed in a recent tweet that his stop loss didn’t trigger on the movement, leading his entire account to be liquidated.
“This is really not okay! My stop didn’t trigger and my entire bitmex account is…gone,” he said.
It is important to note that at the time of writing, there has been no official statement from BitMEX regarding this phenomenon, and it still remains unclear as to just how far reaching the impacts of this crypto’s drop were on traders.
Featured image from Shutterstock. origin »
XRP price has just recorded one of its most dramatic drops in recent memory, falling to $1.64, marking a level unseen since November 2024. The 22% plunge from $2.10 follows a wider crypto market meltdown, with Bitcoin (BTC) sinking to…
XRP demonstrated impressive strength on Friday, even amid a sharp pullback following its recent rally to all-time highs, signaling robust market momentum.
XRP surged by 22.68% over the past seven days as its trading volume soared by 46.55%.
Despite these recent gains, the overall market trend remained bearish.
Recently, Ripple [XRP] experienceThe post XRP to $1? Why THIS recent movement has excited analysts appeared first on AMBCrypto.
The XRP community is abuzz with excitement after a whale, a major investor, acquired a hefty 30 million XRP tokens. This significant purchase coincided with a price uptick for the altcoin, which clawed its way back from a recent slump.
XRP, the native token of the XRP Ledger, was rejected at the $0. 60 level once again this week and has since retreated to around $0. 57. This recent price action is frustrating many investors, as XRP has been rangebound between $0.
XRP experienced a surge after Ripple Labs’ recent legal win against the US Securities and Exchange Commission, marking a partial victory. Nonetheless, the pace of this upswing has moderated in recent weeks, encountering notable resistance and initiating a downward trajectory.
XRP price is looking for a platform to rest after its recent downtrend. This short-term correction is a result of the recent breakout and due to its correlation with Bitcoin. Regardless of the recent The post What technical and on-chain metrics indicate for XRP holders in the near term appeared first on AMBCrypto.
Over the last few weeks, XRP has begun to lose its significance in the crypto space as the recent SEC lawsuit against Ripple has caused an adverse impact on the performance of the cryptocurrency. Recent reports have revealed several cases of diverse top exchanges delisting XRP from their trading services, thus resulting in a significant […]
XRP, like many other major altcoins, has caught the brunt of Bitcoin’s recent downturn, with the embattled crypto plummeting from its recent highs of $0. 35 all the way down to its current price of under $0.
Under a day ago, it was reported by Ethereum World News that XRP HODLers were getting annoyed over the recent slump XRP has had in the markets. The popular cryptocurrency has recently seen a drop of over 90% since its all time high value of over $3.
Less than 24 hours ago, Ethereum World News reported that XRP HODLers were getting frustrated due to their favorite digital asset declining in the crypto markets. XRP has declined by over 90% since its all time high value of $3.
Index funds have more than proven their worth as
a preferred option for those with an eye on retirement. But now there is
conversation about the value of adding bitcoin and other cryptocurrencies to
this investment mix.
While crypto enthusiasts are dancing to the beat of their drum claiming Bitcoin is the future of payments, Ripple CEO Brad Garlinghouse feels otherwise. In a recent podcast hosted by Stanford law professors Joe Bankman and Pam Karlan, he talked about the future of cryptocurrency markets, Bitcoin’s scalability problems and more.
In recent months, XRPs availability has increased massively.
A new breakdown by the XRP Community Blog goes into the amount of virtual outlets where XRP can now be purchased has jumped in over 300% in under a year.
Even as XRP proponents insist that the coin is fully decentralized and a utility, XRP is technically in a down trend aside recent recovery. Fundamentally, we expect a recovery in sync with Brad Garlinghouse comments that institutional money will be funneled to XRP this quarter and our optimism seems to be high now that prices.
In a recent article by Coingape, author Nilesh Maurya concluded with an interesting comment about the paths of Ripple XRP and Stellar XLM, Maurya states:
“Even though Ripple and Stellar come from the same source code and cater to the same industry, their focus approach and strategy is very different.
Cryptocurrency exchange Bittrex is set to roll out US Dollar trading pairs for XRP and Ethereum Classic, in a move that will make the currencies far more attractive for US customers, which as we know, does great things for the promise of cryptocurrency adoption.
The recent announcement that Ripple has partnered with the three exchanges of Bittrex, Bitso and Coins. ph, is partly the reason XRP has recovered from one of its lowest lows this year. August 14th found XRP valued at $0.
Asset diversification has long been touted as a
critical strategy for wealth building. This method of portfolio management,
which traditionally involves a mix of stocks, fixed assets and commodities
allows for maximum return at the least amount of risk — an important element
for retirement savings.
Ripple (XRP) has been of the most predictable cyptocurrencies in terms of trading. The recent price action is a carbon copy of the price action during its previous cycle. Interestingly enough, Ripple (XRP) seems to have ended the cycle with the same big red candle of capitulation as in the previous cycle.
Ripple’s Token Branding Decision (Story) – XRP The San Francisco blockchain tech giant – Ripple Labs has started, this year, a process of differentiation from its blockchain token XRP.
Jackson Palmer, a product lead at Adobe and the creator of Dogecoin, said that the recent slump of major cryptocurrencies–including Bitcoin, Ethereum, Bitcoin Cash and Ripple–is attributable to the drop in their user activity.
FOMO Moments Bleeding markets once again, XRP, EOS, IOTA and Ethereum Classic in a world of hurt As if testament to the volatility and immaturity of cryptocurrency markets, another FUD storm has caused 25 billion dollars to be dumped in almost as many hours.
Stellar (XLM) is now most known as a direct competitor to Ripple and XRP. When it comes to cross border remittance payments, Stellar are working very hard to pip Ripple to the post, and indeed, over recent weeks it seems that Stellar really are going the right way about it.
Opinion: Ripple’s entry into the Japanese forex market in the form of a partnership with SBI Holdings is well-documented. However, recent developments occurred when SBI’s FX Trade wing offered new trading pairs with anywhere from 30%-60% savings on fees.
As usual, altcoins have been negatively impacted by Bitcoin’s recent downturn, but all is not lost. As Bitcoin and altcoins become oversold, opportunities for exploiting oversold bounces and tightly bound range trades arise.
Exchanges In recent news regarding bitcoin exchanges, Dcex has launched a peer-to-peer cryptocurrency exchange that will use XRP as its base currency, ESMA regulated exchange, Blocktrade, has opened for beta testing, and Coinfield has announced a partnership with fee-free trading app Moongo.
In recent news regarding bitcoin exchanges, Dcex has launched a peer-to-peer cryptocurrency exchange that will use XRP as its base currency, ESMA regulated exchange, Blocktrade, has opened for beta testing, and Coinfield has announced a partnership with fee-free trading app Moongo.
During a recent interview with CNBC Crypto Trader’s Ran Neu-Ner, Michael Arrington of Arrington XRP Capital revealed that his fund owns more BTC than XRP, and discussed the company’s decision to denominate in XRP.
Stellar has surprised many of us in recent weeks, as it is now making many investors excited to see where it could go.
The exciting possibilities for Stellar are endless. Most of the excitement has gone to ‘high-speed hares’ like Tron and EOS, whilst Lumens (XLM) have been lumbering along like a tortoise.
XRP is one of the most controversial cryptocurrencies on the market. Crypto Briefing has reported on the problems currently plaguing Ripple and (completely separately) XRP tokens as the SEC continues to contemplate the “security issue.
In recent news pertaining to altcoins, Bitgo has announced the addition of Zcash to the roster of cryptocurrencies supported by the cryptocurrency custody firm; Wirex has enabled XRP support for its cryptocurrency debit card; and Tezos has commissioned PricewaterhouseCoopers (PwC) to audit the Tezos foundation’s finances and operations.
Recent times, the price of Bitcoin has risen so high beyond our expectation to the point that it had added more than $2000 in less than 10 days. To some, it will be a mystery since other top altcoins like ethereum, XRP, Bitcoin cash, EOS, litecoin, cardano, Stellar Lumen, Tron are just following The Price […]
The post Why Bitcoin Always Gains Against other Altcoins and Move Their Prices appeared first on ZyCrypto.
Wirex wallet is a desktop and smartphone compatible device, and it allows consumers to store a wide range of crypto tokens. A recent report suggested that Wirex would start to include XRP with their selection, though Pavel Matveev confirmed the report on Twitter.
It is the season of polls for Ripple (XRP), the cryptocurrency which was earlier rendered insignificant by Coinbase despite its enchanting potentials attested to by big and small firms which are not limited to the fintechs but include large banks in the world and some central banks.
According to recent reports, Wirex Wallet is considering XRP [XRP] to their lineup of offered cryptocurrencies. Wirex is a service provider that offers cryptocurrency wallets tied to Visa and Mastercard services for easier use.
A recent video uploaded by XRP Coin Crypto News showed them speaking to the Chief Technology Officer at Ripple, David Schwartz on where he can see XRP going within in the next five years.
During the interview, Schwartz was asked multiple questions on what he thinks of Ripple and where he sees it going in the future.
XLM was one of the fastest overnight gainers in the recent market recovery, displacing Litecoin (LTC) from its position in the top 10 of CoinMarketCap.
We have recently commented on Ripple’s attempts to remove themselves from any association with XRP (the currency produced by and owned by Ripple). Today however, according to a report by The Daily Express (UK) it does seem as if actually, Ripple still want to use XRP to their advantage.
The digital asset #XRP and the company #Ripple are distinctly different. Learn why. https://t. co/yv8cW1gYH6 pic. twitter. com/w3npq2O894
— Ripple (@Ripple) 9 July 2018
The recent rebrand of Ripple XRP has been marked as an attempt for Ripple to step away from association with XRP.
Other cryptocurrencies, such as Ethereum, XRP (aka Ripple) and Litecoin, have suffered similar gut-wrenching drops in the past few months. Legendary investors Warren Buffett and Charlie Munger of Berkshire Hathaway (BRKB) have warned investors to stay away from cryptocurrencies as a result.
Ripple has come out with a recent tweet stating: “The digital asset #XRP and the company #Ripple are distinctly different”. In the tweet is a link to a blog post detailing 5 reasons as to exactly why the two are different.
Ripple has been hit with yet another lawsuit claiming that XRP is a security. This is the third such lawsuit that Ripple has had to deal with in recent months. The suit was filed by California resident David Oconer.
Ripple is staring down the barrel of yet another securities lawsuit — its third one this year. Filed in the Superior Court of the State of California in San Mateo County, the class action alleges that Ripple and its team illegally sold and promoted XRP, Ripple’s currency, as an unregistered security.
The relationship between Ripple Labs Inc. and the XRP token is still a matter of confusion for many individuals. The most recent example of this is the Twitter feud seen earlier today between law consultant Preston Byrne and David Schwartz, the chief cryptographer at Ripple.
Cryptocurrencies remained downbeat on Friday, December 5, with sentiment deteriorating across leading assets. Meanwhile, the latest ETF flow stats confirm this weakness, with Bitcoin and Ethereum exchange-traded products struggling as new products attracted fresh funds.
Ripple (XRP) seems to have lost steam after recording gains over the past two days. The second-largest altcoin by market cap is trading at around $2. 17, with the bulls pushing to regain control of the trend.
Bitcoin traded just above $93,416 on Thursday as expectations mounted that the US Federal Reserve would cut interest rates next week. During the morning session, the cryptocurrency dipped to $92,612 before climbing to an intraday high of $94,002, reflecting renewed momentum after several weeks of turbulence.
Crypto markets staged a major turnaround on Tuesday as traders reacted to rising expectations of US interest-rate cuts and a surge in spot Bitcoin ETF activity following Vanguard’s decision to end its ban on Bitcoin ETF purchases.
The cryptocurrency market kicked off December with a downbeat mood as negative sentiments prevailed. At the same time, yesterday’s inflows data confirmed a divided landscape among leading spot exchange-traded funds (ETFs), which have become the primary indicator of institutional appetite in digital currencies.
The cryptocurrency market experienced a dip on Monday but instantly bounced back. Bitcoin briefly dropped to the $84k level but is now trading above $86k per coin. XRP, Ripple’s native coin, also dipped on Monday, but the $1.
Coinbase stock (NASDAQ: COIN) plummeted 5% in pre-market trading on Monday, as the crypto sector entered December under assault. Bitcoin shed more than 5% to trade below $86,600, while Ethereum collapsed 5.
