The crypto currency market is re -moving with the effect of recent developments. In particular, the XRP, the United States of the United States and the Stock Exchange Commission (SEC) after the end of the case against Ripple Labs attracted attention. This development, announced on March 19, created a positive atmosphere in the market, while a rapid rise in the price of XRP was experienced. The XRP, which stands out with its 13 %value gain, has also caused significant changes in liquidation dynamics.
There is mobility in XRP price
The recovery process, which is observed throughout the crypto currency ecosystem, comes to the fore with the mobility in the XRP. The termination of the United States of the United States Securities and the Stock Exchange Commission (SEC) against Ripple Labs triggered an ascension throughout the market on 19 March. With this development, the price of the XRP experienced an increase of 13 %and the liquidation dynamics in the market have changed.
According to Coings data, the total liquid of XRP in the last 24 hours was 36.96 million dollars. This amount corresponds to approximately 14.890,000 XRP. In previous liquidation trends, a significant imbalance was observed between long and short short position holders, while both investors experienced similar losses.
What will happen now?
Long position holders faced a liquidation of $ 18.21 million, while the suspension (Short) position holders suffered a $ 18.75 million loss. This is not surprising, given the harsh fluctuations in the XRP after the end of the case. In particular, Ripple’s explanations of the Chief Legal Official of the Chief Legal Officer on the possibility of an appeal against the SEC caused uncertainty in the market. These developments have shaped the liquidation appearance in a bidirectional by creating a “selling news” effect among investors.
Despite all these developments, the XRP price continues to tend to rise. It has reached $ 2,496 with an increase of 7.89 %in the last 24 hours. Immediately after the end of the legal process between SEC and Ripple, Bitnomial launched the first XRP futures contract in the USA. This new product can prepare the ground for a full -fledged XRP stock market investment fund (ETF) in the country. With the clarity that XRP is no longer securities, it is expected to increase its flux fluctrum to the XRP Ledger ecosystem. These developments have the potential to indirectly affect the XRP price by accelerating the growth of decentralized applications (DApp) in the ecosystem.
