XRP experienced a sharp 8% price drop following a viral tweet regarding a potential tariff pause. After briefly rising to 2.00 USD, the value reverted to 1.85 USD after the incorrect news was debunked.
The White House confirmed the tweet was false, triggering a decline in XRP and a sell-off in Bitcoin. Approximately 82 million USD worth of XRP was liquidated, predominantly from long positions.
XRP’s volatility highlights the cryptocurrency’s sensitivity to news, as the swift price fluctuations reflect strong market reactions to misinformation.
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