As Bitcoin is heading downwards like a bolt of lightning (from the $7,500 area down to the $6,084 zone), altcoins are following, turning the crypto market into a real blood bath.
The third-largest coin, XRP, has dropped to the $0.15 price mark, losing around 20 percent overnight, according to data from CoinMarketCap.
Meanwhile, the XRPL Monitor bot showed a staggering 150 mln XRP was moved with the participation of two top-performing crypto exchanges.
XRP crashes, following Bitcoin and the stock market
The chief of digital currencies at VanEck, Gabor Gurbacs, has shared some recent data on the stock market collapse on his Twitter page. He called the stock market a ‘time machine’, saying that its current figures have returned to those of March 2018.
The Bitcoin price has been showing a massive retreat and is currently trading in the $6,000 area while just a few hours earlier BTC was worth around a thousand USD more.
This has impacted the price of altcoins, including XRP – it has dropped from $0.19 down to $0.15.
Prominent Bitcoin critic Peter Schiff has compared Bitcoin to a sinking ship as news spread of BTC falling below $7,000.
150 mln XRP transferred amid the crypto market fall
The XRPL Monitor bot has detected several massive transactions totalling a staggering 150 mln XRP. That’s $23,162,642.
The largest transactions here were made with the participation of the two largest exchanges – Binance and Bitfinex. The Japanese Bitbank was also involved in some of these wire transfers.
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