XRP Price Drop Could Trigger $9.46M Short Liquidation

XRP's price fluctuation of 5% could result in the liquidation of $9.46 million (approximately KRW 127 billion) in short positions, amid the upcoming review of the U.S. Senate's virtual asset market structure bill, the Clarity Act. U.Today reported that a 5% movement in XRP price may trigger the liquidation of $9.46 million worth of short positions. The U.S. Senate document indicates that Republican Senator John Thune filed a closure motion on August 8 for H.R.3633 (the Clarity Act) to begin its review process, though no voting schedule has been confirmed yet.