🚨 $XRP Sheds $10B in Hours Despite Ripple Win 🚨
In a wild twist, XRP’s market cap nosedived from $192.28B to $182.73B on Thursday, Aug 14, wiping out nearly $10 BILLION in value — all within hours. 📉
At the time of writing, XRP is trading at $3.13 (−3.88% daily), but it’s still holding a +2.47% gain this week after Ripple’s big legal victory.
So… what caused the dip?
The culprit appears to be U.S. inflation data that just hit the highest jump since June 2022 — sending shockwaves through the entire risk asset market. 💥
PPI Data Shock:
July PPI 🔺 0.9% vs. forecast 0.2%
YoY PPI 🔺 3.3% vs. expected 2.5% (June was 2.4%)
Core PPI 🔺 0.9% (way above 0.2% forecast)
Annual Core CPI 🔺 3.7% vs. expected 2.9%
Crypto Bloodbath:
BTC hit a fresh ATH above $124K… then crashed below $119K
Solana (SOL) dropped 6.37% from $204 to $191
XRP slid to $3.11 (−3.66%) despite the hype
💬 Moral of the story: Even big wins can’t save you when macro data slaps the market.