XRP unexpectedly drops to $0.001 on Bitrue, here's what's going on $XRP XRPArmy XRPCommunity XRPHolders
Some of the users took to Twitter to share screenshots of a devastating wick on the XRP/USDT perpetual trading pair on Bitrue, which liquidated long positions within a relatively short time.In his explanation, a false wick on XRP futures on Bitrue dropped the XRP price to almost zero. This liquidated XRP long positions even though the price of XRP itself on the market did not fall below $0.46.had a lot of long positions open on XRP.
Morgan likewise pointed out that he is unaware if any buy orders were met at very low prices, but long positions were wiped out.has confirmed the incident and unveiled the corrective steps it is taking. Its statement reads:"On April 26, 2023, between 07:15 to 07:16 , we experienced a technical glitch in our system, which led to certain orders for XRP/USDT being placed with incorrect prices and quantities."
Bitrue says it will be taking the following actions to rectify the matter: first, all positions made between 7:15 a.m. and 7:16 a.m. will be reversed, and the margin amount will be returned to user accounts.We deeply apologize for any inconvenience caused.Second, for users who have been liquidated, all losses will be nullified, and their margin amount will be refunded to their accounts. For this, it says the settlement price of XRP will be marked at 0.4696, its price taken at 7:15 a.m. UTC.
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