2023-07-15 14:41:42
Chinese crypto journalist and blogger Colin Wu tweeted that over the past 24 hours, following XRP price falling 13% of traders eventually wiped out their portfolios, XRP’s slump escalated to regarding 17%, he shares, according to CoinGlass.
After closing positions, $218 million worth of trader portfolios were wiped out as a result of altcoins such as ADA, LTC, XLM, MKR, FTM, BSV, etc. rapidly falling in price.
As a result of the liquidation, more than $160 million worth of losses came from the side of those who opened long these coins.
XLM has fallen by 13.5% in the last 24 hours; XRP has fallen by 13% in the last 24 hours; ADA FTM BSV LTC MKR has also fallen sharply; the amount of liquidation in 24 hours reached 218 million US dollars, and 160 million US dollars was long liquidation. https://t.co/YQ6p9AZeYG
— Wu Blockchain (@WuBlockchain) July 15, 2023
The price of XRP soared 100% following Judge Analisa Torres issued a verdict stating that XRP is not a security as the SEC has repeatedly stressed.
The court ruled that even XRP sold directly by Ripple to a financial institution would be classified as a security. However, programmed sales and other sales that Ripple makes are not considered securities. The community is now pondering whether the ODL sale of Ripple And is issuing XRP from escrow also classified as a security?
Ripple CTO David Schwartz responded to the question on Twitter, saying that Ripple’s legal team is currently investigating the issue.
source : U.Today
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