{"id":167957,"date":"2021-02-01T17:28:04","date_gmt":"2021-02-01T14:28:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/reddit-rage-as-xrp-price-crashes-50-hours-after-hitting-two-week-highs\/"},"modified":"2021-02-01T17:28:04","modified_gmt":"2021-02-01T14:28:04","slug":"reddit-rage-as-xrp-price-crashes-50-hours-after-hitting-two-week-highs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/reddit-rage-as-xrp-price-crashes-50-hours-after-hitting-two-week-highs\/","title":{"rendered":"# Reddit rage as XRP price crashes 50% hours after hitting two-week highs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36dc7e2e145\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36dc7e2e145\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/reddit-rage-as-xrp-price-crashes-50-hours-after-hitting-two-week-highs\/#XRP_traders_nurse_48_losses\" >XRP traders nurse 48% losses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/reddit-rage-as-xrp-price-crashes-50-hours-after-hitting-two-week-highs\/#DOGE_holds_ont\" >DOGE holds ont<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Reddit<\/a> rage as XRP price crashes 50% hours after hitting two-week highs <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>XRP, the number four cryptocurrency by market cap, crashed nearly 50% in under two hours on Feb. 1 as a trading frenzy backfired on new investors.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/888518f7-4a8d-4729-81ef-721f9ad91d59.png\"><figcaption style=\"text-align: center;\"><em>XRP\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"XRP_traders_nurse_48_losses\"><\/span>XRP traders nurse 48% losses<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/XRPUSD\/\">TradingView<\/a> showed extreme volatility set in for XRP\/USD during Monday trading, hours after a now-infamous Reddit group r\/Wallstreetbets opted to buy the token en masse.<\/p>\n<p>After reaching highs of $0.75, losses began mounting fast, the downside accelerating until XRP bounced off lows of $0.39 \u2014 48% beneath the top.<\/p>\n<p>At the time of writing, XRP\/USD traded at around $0.45, with large swings still commonplace on low timeframes. The social daily sentiment score has also reached levels not seen since January 2018, according to data from TheTie.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/30e0c912-3e2c-49d1-a425-26c771e64c48.png\"><figcaption style=\"text-align: center;\"><em>XRP daily sentiment score. Source: TheTie<\/em><\/figcaption><\/figure>\n<p>Responding, critics of the controversial altcoin were first to warn over what they saw as the pitfalls of investing in it over Bitcoin (BTC) for short-term trading.\u00a0<\/p>\n<p>&#8220;Even though the $XRP army get aggressive when you warm them about the escrow shaped elephant in the room, I still can\u2019t help but feel sorry for those that bought at 0.75c today. X R (I)P,&#8221; regular Cointelegraph Markets&#8217; contributor\u00a0Keith Wareing summarized on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/officiallykeith\/status\/1356238938550239243?s=20\">Twitter<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"DOGE_holds_ont\"><\/span>DOGE holds ont<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Previously, XRP had been on a different downtrend as a result of\u00a0legal action against Ripple, the blockchain payment network which constitutes its largest investor. The rebound had delighted other fans, who had watched as the coin hit lows of under $0.16 just weeks ago.<\/p>\n<p>Meanwhile, XRP was not the only target of Reddit traders on the day, with Dogecoin (DOGE) and silver seeing huge increases.<\/p>\n<p>At the time of writing, DOGE\/USD was holding on to its gains, which had taken it to near $0.04. A mention singling it out among other altcoins from Elon Musk in an interview late on Sunday had buoyed sentiment among fans of the meme-based altcoin.<\/p>\n<p>By contrast, as Cointelegraph reported, little action was present on Bitcoin spot markets, with the closest bullish support at $34,000 yet to be realized.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/reddit-rage-as-xrp-price-crashes-50-hours-after-hitting-two-week-highs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Reddit rage as XRP price crashes 50% hours after hitting two-week highs &#8221; XRP, the number four cryptocurrency by market cap, 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 XRP traders nurse 48% losses Data from Cointelegraph&#8230;<\/p>\n","protected":false},"author":1,"featured_media":167958,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvNzBjMjM4MjQtNmRhMi00MzA4LTgyYWQtYjc4MjFmZDcxYWM0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,86883,75034,75557,73785,5005],"class_list":["post-167957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-dogecoin","tag-ripple","tag-xrp","tag-markets","tag-reddit"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/167957","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=167957"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/167957\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/167958"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=167957"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=167957"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=167957"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}