XRP Drops Below $2 After $721 Million Sell-Off From Long-Held Wallet

A seven-year-old XRP wallet initiated a $721 million sale, while Bitcoin ETFs face $100 billion in unrealized losses amid market downturn.

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Terms & Concepts
  • XRP: A digital asset used in Ripple’s payment network, designed for fast, low-cost international transactions.
  • Wallet: A digital storage for cryptocurrencies, allowing sending, receiving, and holding of digital assets.
  • Bitcoin ETF: An exchange-traded fund that tracks Bitcoin's price, enabling investors to gain exposure without directly owning the cryptocurrency.