XRP saw a double digit drop within minutes, but it wasn't the worst-performing altcoin.
XRP, the seventh largest cryptocurrency in terms of market capitalization, recently dropped 12 percent on the BINANCE exchange in 50 minutes to $ 0.472, erasing previous earnings.
Following this sudden collapse, the cryptocurrency has managed to make an impressive recovery, currently trading at $ 0.52.
The cryptocurrency market has seen a large amount of liquidation on futures exchanges after the largest cryptocurrency, Bitcoin (BTC), dropped to $ 54,000.
Crypto Coins Have Declined:
According to Bybt data, over $ 1.7 billion of cryptocurrencies have been liquidated in the last 24 hours, and $ 1.2 billion was deleted in just 12 hours. Binance Coin (BNB) experienced a brutal correction and dropped to $ 249 on February 20, after rising to $ 348 the previous day.
Overall, XRP and Binance Coin are the two worst-performing cryptocurrencies in the top ten, followed by Litecoin (LTC) and Bitcoin Cash (BCH).
McCaleb Continues to Sell XRP:
Meanwhile, Jed McCaleb, Ripple co-founder and creator of Stellar, continues to sell the millions of XRP he has.
During this week, McCaleb has consistently sold 38 million tokens daily.
According to Leonidas Hadjiloizou, McCaleb still has 2.49 billion XRP, but its sales are expected to decrease next week due to the cryptocurrency's falling trading volume.
