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$218 Million Worth of XRP, XLM, ADA Liquidated! XRP falls 17%
Traders Lock in Profits as XRP Fall
In the aftermath of an impressive price surge that propelled XRP and other altcoins to new heights, traders are now faced with the need to secure their gains and liquidate their positions.
Over the past 24 hours, $XRP experienced a notable decline of 13%, which subsequently extended to a total fall of approximately 17%.
Prominent Chinese crypto journalist and blogger, Colin Wu, revealed this development in a recent tweet, citing data provided by #CoinGlass.
Major Altcoins Experience Sharp Price Falls
As traders began to close their positions, a staggering $218 million worth of crypto assets were #liquidated , resulting in significant price drops across several major altcoins.
Among the affected cryptocurrencies were $ADA , $LTC, $XLM, $MKR, $FTM, and BSV.
Notably, a significant portion of the liquidated amount, approximately $160 million, constituted long positions in these coins.
XRPâs Price Surge and the Verdict on its Security Status
The price of $XRP had previously skyrocketed by approximately 100% following a verdict delivered by Judge Analisa Torres.
The ruling stated that XRP should not be classified as a security, contrary to the position maintained by the U.S. Securities and Exchange Commission (SEC).
The court clarified that only #XRP sold by Ripple directly to financial institutions would be deemed securities, while programmatic sales and other sales made by Ripple would not fall under this classification.
Rippleâs Ongoing Legal Assessment
In light of the court ruling, the community is now contemplating whether Rippleâs ODL (On-Demand Liquidity) sales and the release of XRP from escrow should be considered securities as well.
In response to this question, Rippleâs Chief Technology Officer, David Schwartz, took to Twitter, stating that the companyâs legal team is actively investigating the matter.
The outcome of this assessment will likely have significant implications for Ripple and the broader crypto industry.
XRP Shows Signs of Recovery
Following the recent price decline, XRP has managed to recover nearly 6% of its value.
At present, the cryptocurrency is trading at $0.72193.
The market remains eagerly attentive to developments surrounding XRPâs security status and any potential impact on its price trajectory.
Read all article at: https://perseuscrypto.com/crypto-news/218-million-worth-of-xrp-xlm-ada-liquidated/
In the aftermath of an impressive price surge that propelled XRP and other altcoins to new heights, traders are now faced with the need to secure their gains and liquidate their positions.
Over the past 24 hours, $XRP experienced a notable decline of 13%, which subsequently extended to a total fall of approximately 17%.
Prominent Chinese crypto journalist and blogger, Colin Wu, revealed this development in a recent tweet, citing data provided by #CoinGlass.
Major Altcoins Experience Sharp Price Falls
As traders began to close their positions, a staggering $218 million worth of crypto assets were #liquidated , resulting in significant price drops across several major altcoins.
Among the affected cryptocurrencies were $ADA , $LTC, $XLM, $MKR, $FTM, and BSV.
Notably, a significant portion of the liquidated amount, approximately $160 million, constituted long positions in these coins.
XRPâs Price Surge and the Verdict on its Security Status
The price of $XRP had previously skyrocketed by approximately 100% following a verdict delivered by Judge Analisa Torres.
The ruling stated that XRP should not be classified as a security, contrary to the position maintained by the U.S. Securities and Exchange Commission (SEC).
The court clarified that only #XRP sold by Ripple directly to financial institutions would be deemed securities, while programmatic sales and other sales made by Ripple would not fall under this classification.
Rippleâs Ongoing Legal Assessment
In light of the court ruling, the community is now contemplating whether Rippleâs ODL (On-Demand Liquidity) sales and the release of XRP from escrow should be considered securities as well.
In response to this question, Rippleâs Chief Technology Officer, David Schwartz, took to Twitter, stating that the companyâs legal team is actively investigating the matter.
The outcome of this assessment will likely have significant implications for Ripple and the broader crypto industry.
XRP Shows Signs of Recovery
Following the recent price decline, XRP has managed to recover nearly 6% of its value.
At present, the cryptocurrency is trading at $0.72193.
The market remains eagerly attentive to developments surrounding XRPâs security status and any potential impact on its price trajectory.
Read all article at: https://perseuscrypto.com/crypto-news/218-million-worth-of-xrp-xlm-ada-liquidated/
The "OG" institutional #BTC investment vehicle has risen in value as a result of BlackRock's intentions for bitcoin.
The Grayscale Bitcoin Trust ( #GBTC ) nearly surpassed fresh 2023 highs on June 17, according to data from the monitoring tool #CoinGlass.
GBTC "premium" declines to -37%
After learning that #BlackRock, the largest asset manager in the world, had submitted paperwork to start an exchange-traded fund (ETF) based on the Bitcoin spot price, the mood in the bitcoin market slightly improved late last week.
Some believe that a spot ETF from a dependable company like BlackRock should have a greater chance of ending the legal deadlock even though it is still not permitted in the United States.
The Grayscale Bitcoin Trust ( #GBTC ) nearly surpassed fresh 2023 highs on June 17, according to data from the monitoring tool #CoinGlass.
GBTC "premium" declines to -37%
After learning that #BlackRock, the largest asset manager in the world, had submitted paperwork to start an exchange-traded fund (ETF) based on the Bitcoin spot price, the mood in the bitcoin market slightly improved late last week.
Some believe that a spot ETF from a dependable company like BlackRock should have a greater chance of ending the legal deadlock even though it is still not permitted in the United States.
$BTC Overview.
Market liquidations over the last 24 hours, #CoinGlass. : ~54 K traders, totalling -$114 million -
-55% long positions and ~45% short positions.
We spend the weekend with a consolidation above the local resistance level as expected. This is a good signal to continue the upward movement next week. #LowestCPI2021
The upward movement reserve will be up to 66-69K. Perhaps we will test 70K. This will already be the fifth test of the downtrend.
If it is broken - the road to 72K
with the potential of ATH update will be opened,
If it fails to break above, we will see another decline to at least 60K.#CryptoMarketMoves
#PowellAtJacksonHole #Bitcoinâ
Market liquidations over the last 24 hours, #CoinGlass. : ~54 K traders, totalling -$114 million -
-55% long positions and ~45% short positions.
We spend the weekend with a consolidation above the local resistance level as expected. This is a good signal to continue the upward movement next week. #LowestCPI2021
The upward movement reserve will be up to 66-69K. Perhaps we will test 70K. This will already be the fifth test of the downtrend.
If it is broken - the road to 72K
with the potential of ATH update will be opened,
If it fails to break above, we will see another decline to at least 60K.#CryptoMarketMoves
#PowellAtJacksonHole #Bitcoinâ
