Abnormal Flash Shutdown: XRP plunges 12.39% in one hour; the tables have overturned the board


The second largest XRP cryptocurrency, showed wild fluctuations in its market performance. The currency fell unexpectedly low over the course of an hour when it fell 12.39%. At the time of printing, XRP is trading at a depreciated price of $ 0.42 with a market capitalization of $ 17.1 billion. The 24-hour trading volume was $ 1.3 billion.

XRP 1 hour candelabras | Source: tradingview

XRP 1 hour candelabras | Source: tradingview

XRP has just broken the previously formed support at $ 0.43, which is showing a deep cut in the price trend of cryptocurrency.

Ripple's native cryptocurrency is the only one that acted in disagreement with Bitcoin [BTC] and other altcoin colleagues and is very volatile at the moment. Just an hour ago, the altcoin was colored green and up 0.28% where it was traded at a healthy price of $ 0.48, where market capitalization was higher than $ 19. billion. Within an hour, XRP registered a wipeout of over $ 2 billion.

Because the change in market capitalization is so rapid, XRP may have to face several consequences, in which a serious threat is the loss of its second position that can be recovered from Ethereum [ETH] if the drop continues.

As for the bear market, John McAfee, a technology entrepreneur who has a strong interest in the speculative world of cryptocurrency, wrote on Twitter:

"People are panicking, but there's no need to fuck, we're in a bear market, they suck, yes, and not like a toothless prostitute, but I'm 73 and I've seen this dozens of times in many markets Bear markets are like winter, it is always followed by a glorious spring.

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Priyamvada Singh

Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.

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