The cryptocurrency market experienced significant volatility in the past 24 hours, marking some of its worst deleveraging events in history. Ripple’s XRP token was not immune to this downturn, experiencing a substantial price drop that saw it plummet to as low as $1.2 on Binance perpetual contracts. This decline resulted in an estimated $1 billion worth of leveraged positions being liquidated within the same period. 🤯 While the exact reason behind the XRP price dip remains unclear, the broader market crash likely played a major role in driving down prices for most crypto assets. 📉 As reported by CryptoPotato, over $20 billion in leveraged positions were liquidated, and Bitcoin’s price dropped from over $122,000 to around $105,000 on various exchanges, leading to widespread volatility across the industry. Notably, XRP’s performance was comparatively more stable compared to other altcoins; ATOM even suffered a near 99% drawdown before rebounding. 🚀 The recent market crash highlights the inherent risks associated with leverage and the heightened volatility of individual assets like XRP against the relative stability of Bitcoin’s trading volume. Despite the drop, XRP is currently trading around $2.4 on Binance.