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<p dir="ltr">There has been a comprehensive recovery in the digital currency ecosystem, with the XRP price in the spotlight. The coin triggered a broader market rally on March 19 after the United States Securities and Exchange Commission (SEC)<a href="https://u.today/xrp-skyrockets-14-in-reaction-to-ripple-sec-lawsuit-end" rel="noopener noreferrer nofollow">ended its lawsuit</a> against Ripple Labs. The update triggered a 13% jump in the price of XRP, fueling a shift in the coin’s liquidation.</p>
<h2 id="xrp-liquidation-evens-out">XRP liquidation evens out</h2>
<p dir="ltr">At the time of writing, CoinGlass data<a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">pegs</a> the XRP liquidation in the past 24 hours at $36.96 million. This figure amounts to more than 14,890,000 XRP, per market data.</p>
<p dir="ltr">Unlike previous<a href="https://u.today/12763-liquidation-imbalance-stuns-xrp-bulls-in-just-one-hour" rel="noopener noreferrer nofollow">liquidation trends</a>, which showed a defined imbalance between long and short traders, this current figure reveals that both classes of investors recorded the same losses.</p>
<p dir="ltr">While long traders saw a total liquidation of $18.21 million, short traders had more at $18.75 million. This trend is not surprising, considering the massive fluctuations experienced on the XRP market shortly after the lawsuit's closure was announced.</p>
<p dir="ltr">Traders were fairly confused as Ripple CLO hinted at possible plans to<a href="https://u.today/ripple-now-in-drivers-seat-clo-stuart-alderoty-breaks-silence-as-sec-backs-down" rel="noopener noreferrer nofollow">file a counter-appeal</a> against the U.S. SEC. This implies that the case might not be over, as many suggested, a sell-the-news event that triggered a split liquidation outlook.</p>
<p dir="ltr">Overall, the price of XRP is still maintaining its bullish outlook, up by 7.89% in 24 hours to $2.496.</p>
<h2 id="what-s-next-for-xrp-s-price">What's next for XRP's price?</h2>
<p dir="ltr">As it stands, XRP traders might have more positive fundamentals to lean onto moving forward. Shortly after the Ripple and SEC news, Bitnomial<a href="https://u.today/first-cftc-regulated-xrp-futures-go-live" rel="noopener noreferrer nofollow">launched</a> the first XRP futures contract in the United States.</p>
<p dir="ltr">This product might set the stage for the emergence of a full-blown XRP ETF product in the country. With XRP now in the clear as a nonsecurity, the broader XRP Ledger ecosystem might now welcome an influx of developers.</p>
<p dir="ltr">The protocol is poised to welcome explosive growth in its decentralized applications (DApps) moving forward, which will indirectly impact the XRP price.</p> <a href="https://u.today/14890000-xrp-liquidated-in-24-hours-major-price-shift-emerges" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

14,890,000 XRP Liquidated in 24 Hours, Major Price Shift Emerges

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