XRP price crashed 37% in minutes on Saturday, August 22, wiping roughly $0.60 from its value. Approximately $500 million in leveraged long positions were liquidated within the same timeframe across the crypto market. A total of $1.35 billion was wiped from the crypto market over 24 hours, with the bulk of activity concentrated on Binance. The brutal correction followed a 60% rally the previous week that left traders dangerously overexposed. XRP has since partially recovered, climbing back to around $1.50.
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