XRP price slides 14% after $250M in long liquidations

The SEC proposed Regulation Crypto Assets, allowing crypto projects to raise up to $75M/year without full securities registration. Ethereum (ETH) and Solana (SOL) could be indirectly affected. The proposal includes tiered exemptions and reduced regulatory burdens post-fundraising. Implementation is uncertain and subject to a 60-day comment period.

XRP surged above $1.20, with whales accumulating 300M tokens. Ripple Prime raised $275M in senior notes, expanding its institutional brokerage. XRP's breakout above $1.155 resistance is key for sustained gains, according to analysts.

Ripple Prime closed a $275 million senior unsecured notes offering for working capital and corporate purposes. KBRA rated the notes BBB, relying partly on expected support from parent Ripple, which holds 37.66 billion XRP, though escrow and market constraints limit its support capacity. The notes are unsecured, and no XRP collateral or parent guarantee details were disclosed.

Bitcoin (BTC) fell to $75,500 after failing to stay above $77,000, with altcoins like Ethereum (ETH) and XRP also declining. Wintermute reportedly built large short positions, sending $60M in BTC and SOL to exchanges and holding $146.19M in short futures. BTC is down 2%, ETH 5%, and XRP 6.5%.

XRP surged to a three-month high after President Trump endorsed the CLARITY Act, which would classify it as a commodity. Whales and ETFs bought 300M tokens and $39.78M respectively, while short sellers faced a $3.3B squeeze. XRP trades at $1.50, with potential upside capped at $1.48 due to profit-taking.

Treasury Secretary Scott Bessent announced increased purchases of long-term bonds, temporarily lowering yields. Bitcoin surged 23% weekly, boosted by regulatory news. Walmart's Q2 revenue beat expectations but shares fell 9.2% due to tariff refunds. Philadelphia Fed's manufacturing index rose to 47.4 in August, exceeding forecasts.