Ripple investors are keeping a close eye on the news about the popular cryptocurrency XRP. The latest incident has raised concerns considerably. A whale moving millions of XRP to the Korean exchange, “is a new Ripple crash imminent?” brought the question to mind.
Worries have not yet subsided after billions of liquidated leveraged positions emerged after the collapse in the cryptocurrency market. The drop in the price of Bitcoin to $ 25 thousand created a domino effect.
XRP price is down over 15 percent. He left behind over $50 million in liquidated leverage positions. But the events are not over yet.
Popular whale transaction tracking resource Whale Alert recorded a massive 150 million XRP transaction sent to Bithumb, Korea’s largest exchange.
It is worth noting that this does not necessarily mean that a collapse is imminent. However, often investors send their cryptocurrencies to an exchange to sell rather than hold them.
On the other hand, investors have been worried about the sudden loss of value of crypto assets such as Ripple. Similar crashes in the past, in particular, highlight the volatility and uncertainty of the market, raising concerns about how investors can deal with risks.
Sudden drops in Ripple’s price reveal the risk of investors losing the value of their assets rapidly. Therefore, investors feel the need to diversify their portfolios, create risk management strategies and closely follow developments in the crypto market.
A new XRP collapse could shake investors’ confidence in crypto assets and draw their attention, once again reminding them of the effects of market fluctuations.
How much XRP did Ripple sell?
Ripple released its quarterly XRP markets report for Q2 2023 on July 31.
The company’s XRP assets at the end of the second quarter of 2023, which ended on June 30, amounted to 5,551,119,094, an increase from 5,506.585918 recorded on March 31. Also, the total XRP in ledger escrow has dropped from 42,800,000,013 at the end of the first quarter of 2023 to 41,900,000,005 in the second quarter of 2023.
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