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**Breaking: XRP Collapses 8% in Minutes Due to Unverified Market Rumor**
Ripple’s flagship token XRP has experienced a severe price drop of over 8% in the span of just minutes, leaving investors reeling. The sudden and drastic decline is attributed to an unverified market rumor that began circulating on Twitter.
According to reports, CNBC picked up on the tweet and broadcasted it without verifying the information. Reuters then followed suit, flashing the news across their screens despite lacking concrete evidence. As a result, XRP’s price plummeted in a matter of minutes.
In a shocking turn of events, XRP fell as low as $1.65 earlier today before attempting to recover some of its losses. The token had previously rallied strongly on recent news, only to be hit by the unexpected sell-off.
The sudden collapse is particularly concerning given the token’s already fragile state after experiencing a decline in retail interest. According to CoinGlass data, a staggering $82 million worth of XRP tokens has been liquidated over the past 24 hours, with long positions accounting for the majority ($62 million).
As one of the most volatile days of the year for both XRP and the broader crypto market, it remains unclear whether this price drop is an isolated incident or a harbinger of further losses.
Source: https://u.today/breaking-xrp-collapses-8-in-minutes-because-of-this-one-word
