XRP Plunges Over 53% in Morning “Black Swan” Crypto Flash Crash as Altcoins Suffer Up to 99% Losses

COINOTAG reported on October 11 that a morning crypto market “black swan” event triggered a rapid flash crash, with top-ten tokens such as XRP (market cap around $141 billion) and DOGE (around $29 billion) registering intraday declines exceeding 53% as liquidity evaporated.

The broader altcoin market experienced severe dislocations, with some projects down as much as 99%, causing acute volatility, concentrated selling pressure and order-book gaps that amplified price moves across mid-cap and small-cap tokens.

Market participants report that prices have since staged a measured rebound as liquidity returned; institutional traders and risk managers are advised to monitor volatility metrics, on-chain flows and bid-offer dynamics to assess the sustainability of the recovery.