XRP BitMEX rate instantly crashes to $ 0.13

On February 13, on the BitMEX platform, the price of XRP almost instantly collapsed from $0.32 to $0.13.Because of this errorErrors: Some traders have reported a loss of funds.

After a 60% fall in prices, tradersThey began to report that the Stop Loss system did not work on the BitMEX platform, which led to the immediate liquidation of the positions of traders and the loss of their funds. Analyst Jacob Canfield noted that the event had widespread implications for the market and was not a harmless mistake.

This turn of events came as a surprise to BitMEX, which usually adheres to "fair pricing" rules to protect againsthigh volatility and low liquidity. 

According to some users, in the BitMEX futures market, a sharp price movement caused the liquidation of positions, taking away traders' collateral. 

The trading failure occurred against the backdrop of low liquidity in the XRP/USD market, which was launched on the exchange just a week ago. 

At the moment, representatives of BitMEX have not given official comments.