XRP's Weekend Rally Ends Abruptly Amid $250M Liquidation Storm
XRP's price surge over the weekend has been followed by a significant correction, leaving investors wondering if the token's rally will continue. Despite closing the week with a 51 percent gain, XRP reversed sharply on Sunday, triggering over $250 million in long-position liquidations within a single 24-hour window.
The rally is largely attributed to political developments, with Ripple CEO Brad Garlinghouse expressing optimism about the US regulatory landscape following Thursday's CFTC Innovation Advisory Committee meeting. The committee's roster includes representatives from major financial institutions, and its recommendations are seen as crucial in establishing clear crypto rules.
However, market-based probabilities suggest a cautious outlook, with prediction markets pricing passage of the CLARITY Act at just 24.5 percent. Institutional investors remain hesitant, with some warning of a potential slide below $1.29 if the Senate vote fails or bond yields resume their climb.