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XRP Suffers Brutal 37% Flash Crash Amid $1.35 Billion Crypto Liquidation

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BTC ETH SOL XRP
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The crypto market experienced a brutal flash crash on August 22, with XRP's price plummeting by 37% within minutes.

Roughly $500 million in leveraged long positions were liquidated across the market, with XRP losing around $0.60 of its value.

Bitcoin fell 2.5%, Ethereum dropped 5%, and Solana slid 11.5% during the same time period.

The crash occurred just days after XRP had rallied more than 60% over the past week, leaving traders dangerously overexposed.

Crypto analyst CW attributed the drop to high leverage, thin weekend liquidity, and excessively bullish positioning.

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