Ripple (XRP) surged to a 19-month high after SEC win, leading to liquidation of $220 million in shorts.

Yesterday turned out to be an extremely positive day for all Ripple supporters as Judge Torres, who is presiding over the company’s legal case against the SEC, ruled that almost all XRP sales do not constitute securities transactions.

This had an immediate impact on the price of XRP, as well as other coins that were recently targeted by the securities regulator, and prices are rising rapidly. Naturally, liquidations are also on the rise.

• As reported yesterday, the entire crypto market came to a standstill, with most assets trading sideways for several days. However, everything changed soon after Judge Torres’ decision was made public.
• XRP was trading just below $0.5 and was unable to overcome that level since June 23rd. However, the immediate impact of the decision sent the asset flying, as its price nearly doubled to $0.95 within the next 12 hours.
• This has become its highest price tag since mid-December 2021, and it has become the fourth largest cryptocurrency by market cap. Despite falling back to $0.8 since then, XRP is still up more than 60% on the day.

• But it is not just Ripple’s native token that has displayed astonishing gains today. Other crypto assets including Solana (SOL), Cardano (ADA), Stellar (XLM) and others that have recently come under the regulatory purview of the US Securities and Exchange Commission are also well in the green.
• SOL is up 33% to around $30, ADA is up 25% and is above $0.35, while XLM is up 57% and is north of $0.15.
• ETH has reclaimed the coveted $2,000 level after a modest 7.5% gain in a day.
• This increased volatility has put traders with excessive leverage at a disadvantage, especially those with short positions. total value of ruined state just under $300 million, while the shorts represent $220 million.
• Over 83,000 traders were liquidated in the past 24 hours, including the largest single order ever on BitMEX and, as expected, XRP.

Yesterday turned out to be an extremely positive day for all Ripple supporters as Judge Torres, who is presiding over the company’s legal case against the SEC, ruled that almost all XRP sales do not constitute securities transactions.

This had an immediate impact on the price of XRP, as well as other coins that were recently targeted by the securities regulator, and prices are rising rapidly. Naturally, liquidations are also on the rise.

• As reported yesterday, the entire crypto market came to a standstill, with most assets trading sideways for several days. However, everything changed soon after Judge Torres’ decision was made public.
• XRP was trading just below $0.5 and was unable to overcome that level since June 23rd. However, the immediate impact of the decision sent the asset flying, as its price nearly doubled to $0.95 within the next 12 hours.
• This has become its highest price tag since mid-December 2021, and it has become the fourth largest cryptocurrency by market cap. Despite falling back to $0.8 since then, XRP is still up more than 60% on the day.

• But it is not just Ripple’s native token that has displayed astonishing gains today. Other crypto assets including Solana (SOL), Cardano (ADA), Stellar (XLM) and others that have recently come under the regulatory purview of the US Securities and Exchange Commission are also well in the green.
• SOL is up 33% to around $30, ADA is up 25% and is above $0.35, while XLM is up 57% and is north of $0.15.
• ETH has reclaimed the coveted $2,000 level after a modest 7.5% gain in a day.
• This increased volatility has put traders with excessive leverage at a disadvantage, especially those with short positions. total value of ruined state just under $300 million, while the shorts represent $220 million.
• Over 83,000 traders were liquidated in the past 24 hours, including the largest single order ever on BitMEX and, as expected, XRP.