XRP Price Suffers a Brutal Flash Crash as $1.35 Billion Crypto Liquidation

XRP price suffered a brutal 37% flash crash on Saturday, August 22, as roughly $500 million in leveraged long positions were liquidated across the crypto market within minutes.

The move came just days after XRP had rallied more than 60% over the past week, leaving traders dangerously overexposed.

🩸 MASSIVE CRYPTO FLASH CRASH$500 million worth of late long positions were liquidated as the market plunged:Bitcoin: -$1,935 (-2.5%)Ethereum: -$130 (-5%)Solana: -$11.50 (-11.5%)XRP: -$0.60 (-37%)All of this happened within MINUTES.

pic.twitter.com/QsQ24TyGQh— Crypto Rover (@cryptorover) August 22, 2026 What Triggered the $500 Million Liquidation Wave A liquidation occurs when an exchange forcibly closes a leveraged position because a trader can no longer cover potential losses, often triggering rapid, cascading price moves.