The cryptocurrency market is experiencing a significant rally, with the total market cap reaching a record $3.4 billion. XRP, the cryptocurrency associated with Ripple, has seen its price surge above $1.42, reaching its highest level in three years. This has resulted in a significant amount of liquidations, with long and short traders collectively losing $27.54 million. The growth of XRP is attributed to the announcement of Gary Gensler's departure from the chairmanship of the SEC, which is seen as a positive development for the cryptocurrency. Other altcoins, such as Solana, have also experienced significant price increases, with Solana reaching a new all-time high of $263.70. This surge in prices has led to cautionary trading practices and a total liquidation figure of over $391 million in the broader market.



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