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$218 Million USD in XRP, XLM, ADA Liquidated as XRP Falls 17%

Sat, 07/15/2023 - 10:21
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Yuri Molchan
After glorious price surge of XRP, which pulled other altcoins up too, time has come for traders to lock in their profits and liquidate positions
$218 Million USD in XRP, XLM, ADA Liquidated as XRP Falls 17%
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Chinese crypto journalist and blogger Colin Wu has tweeted that over the last 24 hours, after XRP plunged by 13%, traders began to liquidate their positions. Ultimately, the XRP fall extended to approximately 17%. He shared data provided by CoinGlass.

As they began to close positions, a total of $218 million worth of crypto liquidations and sharp price falls of such major altcoins as ADA, LTC, XLM, MKR, FTM, BSV were registered.

Among these liquidations, $160 million constituted long positions in those coins.

XRP price peaked by roughly 100% after judge Analisa Torres announced a verdict, stating that XRP is not a security as the SEC insisted.

The court ruled that the XRP sold by Ripple to financial institutions directly are to be classified as securities. However, programmatic sales and other sales made by Ripple are not. Now, the community is pondering whether Ripple's ODL sales and XRP releases from escrow are securities as well or they are not.

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Ripple CTO David Schwartz responded to that question on Twitter, saying that Ripple's legal team is looking into that issue now.

By now, the price of XRP has recovered nearly 6%, trading at $0.72193.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at