As part of an All-Sky Automated Survey for SuperNovae (ASAS-SN) search for sources with large flux decrements, we discovered a transient where the quiescent, stellar source, ASASSN-V J192114.84+624950.8, rapidly decreased in flux by $sim55%$ ($sim0.9$ mag) in the g-band. The textit{TESS} light curve revealed that the source is a highly eccentric, eclipsing binary. Fits to the light curve using textsc{phoebe} find the binary orbit to have $e=0.79$, $P_{rm orb}=18.462~text{days}$, and $i=88.6^{circ}$ and the ratios of the stellar radii and temperatures to be $R_2/R_1 = 0.71$ and $T_{e,2}/T_{e,1} = 0.82$. Both stars are chromospherically active, allowing us to determine their rotational periods of $P_1=1.52$ days and $P_2=1.79$ days, respectively. A LBT/MODS spectrum shows that the primary is a late-G or early-K type dwarf. Fits to the SED show that the luminosities and temperatures of the two stars are $L_1 = 0.48~L_{sun}$, $T_1= 5050~K$, $L_2 = 0.12~L_{sun}$, and $T_{2} = 4190~K$. We conclude that ASASSN-V J192114.84+624950.8 consists of two chromospherically active, rotational variable stars in a highly elliptical eclipsing orbit.
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