The recent market slip in Bitcoin and XRP can be attributed to the crisis in the Middle East and a move by the U.S. SEC to contest XRP's sale status. XRP has experienced significant liquidation, with traders losing 21.5 million XRP in the past 24 hours. Long traders accounted for $10.66 million of the losses. Despite this, XRP's liquidation is still lower than that of Solana. The appeal by the SEC indicates that XRP may face at least two more years of litigation, leading to uncertainty and a potential decline in adoption.



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