Over $33M Worth Of XRP Shorts Liquidated In 12 Hours As Crypto Whales Go On A Buying Spree
Portfolio Pulse from Mehab Qureshi
Over $33M worth of XRP shorts were liquidated in the past 12 hours following a court ruling in favor of Ripple Labs. The ruling stated that the XRP token is not considered a security. This led to a surge in whale activity on the XRP network, with 637 transactions valued at over $100,000 each recorded in the last 24 hours. XRP's price increased by 62% in the last 24 hours.
July 14, 2023 | 4:23 am
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POSITIVE IMPACT
XRP price increased by 62% in the last 24 hours following a court ruling in favor of Ripple Labs. This led to a surge in whale activity and the liquidation of over $33M worth of XRP shorts.
The court ruling in favor of Ripple Labs, stating that XRP is not a security, has led to a significant increase in XRP's price. This, in turn, has caused a surge in whale activity and the liquidation of a large number of XRP shorts, indicating a positive short-term impact on XRP's price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
NEGATIVE IMPACT
Bitcoin worth $50.11 million was liquidated within a 12-hour timeframe.
The liquidation of $50.11 million worth of Bitcoin within a 12-hour timeframe could indicate a negative short-term impact on Bitcoin's price.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Ethereum amounting to $38.11 million was liquidated within a 12-hour timeframe.
The liquidation of $38.11 million worth of Ethereum within a 12-hour timeframe could indicate a negative short-term impact on Ethereum's price.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50