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Home»ADOPTION NEWS»XRP price falls as Ripple co-founder says personal account affected by $113 million exploit
ADOPTION NEWS

XRP price falls as Ripple co-founder says personal account affected by $113 million exploit

By Crypto FlexsFebruary 1, 20242 Mins Read
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XRP price falls as Ripple co-founder says personal account affected by 3 million exploit
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Markets • January 31, 2024, 10:44 AM EST.

Posted 1 minute ago In ~

price XRP

-3.93%
Ripple co-founder Chris Larsen said there had been “unauthorized access” to “some of my personal accounts.”

Here are Larsen’s comments: post ZachXBT, a cryptocurrency investigator at

According to The Block’s pricing page, XRP fell 4.4% over the past 24 hours, falling to $0.50 at 10:30 a.m. ET.

XRP price fell more than 4%.

XRP liquidation surge

Due to the drop in XRP price, over $4 million worth of leveraged XRP positions were liquidated. Most of these leveraged positions were long positions, resulting in a loss of approximately $3.8 million.

Total liquidation volume across all leveraged cryptocurrency positions in the last 24 hours reached $150 million, according to Coinglass data. Most liquidations were through purchases, with $113 million liquidated and approximately $36 million coming from liquidated short positions.

In derivatives markets, liquidation occurs when a trader’s position is forced to close due to insufficient funds to cover losses. This situation occurs when market movements are against the trader’s position and the initial margin or collateral is depleted.

Bitcoin price fell 1.6% over the past day. It was trading at $42,916 at 10:30 a.m. ET.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

About the author

Brian McGleenon is a UK markets reporter for The Block. He has worked as a financial journalist and producer for several news outlets such as Fuji Television, The Independent, Yahoo Finance, The Evening Standard and The Daily Express over the years. Brian is also a screenwriter and producer with one feature film and one in development at Northern Ireland Screen. In addition to web3 and cryptocurrency development, he is also interested in geopolitics, environmental issues, artificial intelligence, and longevity studies. Contact us via email (email protected).

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