Crypto Catastrophe: XRP Plummets! Is the $3 Lifebuoy About to Sink? 😂

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On a fateful Wednesday, in a tale as old as time, the esteemed altcoin known as XRP descended into the abyss, spiraling downwards by a staggering 10.34%. Such a dramatic fall, reminiscent of the great plummet of April 3, where it fell 10.39%, left many pondering whether the skies above the cryptocurrency realm were filled with tempestuous clouds or merely a light drizzle of misfortune. The memory of recent upheavals in the United States, the unveiling of monumental tariffs, surely haunted the minds of those who dared engage with risk assets, cryptocurrencies among them.

In a cruel twist of fate, the worst day of this year for XRP was logged on March 3, when it plummeted by 18.8%. That day, even the venerable Bitcoin, the king of coins, succumbed to a weak 9% dip, as macroeconomic anxieties concerning those very tariffs loomed ominously over traders. One must ponder: was this merely the universe’s way of reminding us that nothing, not even digital gold, is safe from a tempest?

As we now arrive at the present juncture, July 23 has harshly joined February 2 in being marked as the year’s most calamitous day thus far. Together, they stand like two friends at a gloomy party, chatting about their recent woes while everyone else dances merrily around them.

According to the wise sages at CoinGecko, XRP now finds itself languishing in dishonor, perched precariously as the fifth-worst performer among the top 100 tokens. To add some salt to the wound, only Celestia, FLOKI, Worldcoin, and Aptos have been worse off—a veritable who’s who of underperformers. A triumph of sorts, perhaps! 🙃

In a most poignant revelation, CoinGlass conveyed the tragic fate of $89.68 million worth of XRP longs, mercilessly liquidated within the span of a single day. One cannot help but envision traders, wide-eyed and clutching their heads, exclaiming, “Why must this happen to us?”

A Battle of Wits: Upbit Chooses Violence

As chronicled by the ever-watchful U.Today, it was revealed that South Korean traders, the very same individuals who fueled XRP’s recent ascent, have also played a role in its dramatic crash. The exchange, Upbit, was notably behind the recent chaos, liquidating a staggering 75 million XRP tokens at market value within just one unremarkable day.

Then, on Wednesday, as if the universe had decided to toy with the bulls, they danced perilously close to the dreaded $3 threshold. Yet, fortune smiled upon them, as they clung to some fleeting bids around that level, staving off an even more calamitous descent. How noble of them! But alas, the ground beneath remains shaky, and XRP teeters towards its second dismal day in the red.

Currently trading at a modest $3.09 on the Bitstamp exchange, sadness ensues as yet another 3% drop is logged. So here we are, dear readers, in the tumultuous world of cryptocurrency, where fortunes rise and fall faster than one can blink—perhaps all we can do is clutch our virtual pearls and hope for sunnier days ahead. 🤷‍♂️

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2025-07-24 09:04