XRP, the fourth largest cryptocurrency in terms of market capitalization, lost almost 50 percent in less than two hours on February 1.
XRP fell 48 percent
According to data from Cointelegraph Markets and TradingView, the XRP / USD pair fluctuated greatly after the massive rally triggered by Reddit group r / Wallstreetbets on Monday.
XRP, which reached as high as $ 0.75, quickly began to fall in value immediately after, and fell by 48 percent to $ 0.39.
XRP is trading at $ 0.44 as of the time of translation broadcast. The daily social sensitivity score also reached levels not seen since January 2018, according to TheTie data.
Critics of the highly controversial altcoin warned that it is dangerous to invest in XRP rather than Bitcoin (BTC) in the short term.
Keith Wareing, author of Cointelegraph Markets, said, “While the XRP army is angry with the criticism, I can’t help but feel sorry for those who bought at $ 0.75 today.” he summed up.