XRP Liquidations Soar as SEC Lawsuit, Token Airdrop Whipsaw Markets
Over $1.5 billion worth of XRP (-14.41%) futures contracts have been liquidated since the start of November, per data from analytics provider Bybt. Barely $700 million in liquidated futures contracts were recorded between March and October.
In November, the price of XRP skyrocketed over 220% to two-year highs just below $0.80 as traders anticipated a scheduled token airdrop event by the Flare Network to all XRP holders. In short, anyone holding XRP would automatically receive a portion of the new Spark token, spurring new buyers to accumulate XRP.
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