Reddit rage as XRP price crashes 50% hours after hitting two-week highs

Cointelegraph

Published Feb 01, 2021 09:28AM ET

Updated Feb 01, 2021 11:00AM ET

XRP, the number-four cryptocurrency by market capitalization, crashed nearly 50% in under two hours on Feb. 1 as a trading frenzy backfired on new investors.

XRP/USD 1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets and TradingView showed that extreme volatility set in for XRP/USD during Monday trading, hours after now-infamous Reddit group r/Wallstreetbets opted to buy the token en masse.

XRP daily sentiment score. Source: The Tie

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