XRP Sees Flash Crash and Quick Rebound on BitMEX – CoinDesk

XRP Sees Flash Crash and Quick Rebound on BitMEX – CoinDesk

XRP, the native asset of San Francisco-based Ripple’s XRP Ledger, experienced a flash crash on Hong Kong-based derivatives exchange BitMEX on Thursday. At exactly 14:00 UTC, the price on the XRP/USD pair quickly plummeted from 33 cents to 13 cents, a 60 percent drop. During that minute, volume spiked to $6 million, according to BitMEX data.