XRP continues to enjoy partial victories in the SEC lawsuit as it tops BTC for trading volume

XRP continues to enjoy partial victories in the SEC lawsuit as it tops BTC for trading volume

Kaiko discovered that XRP volume increased by 1% between June 17th and July 17th, with U.S. Exchanges listing it once again and international support not failing.

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The ruling of the United States Securities and Exchange Commission on July 13 has created unprecedented interest in the XRP coin. Kaiko reports that in the days following the court ruling, the trading volume of XRP ( XRP), has risen to surpass other cryptos.

In a report published on 17 July, the blockchain information service reported a 61% rise in XRP trade following the court’s ruling. On Monday morning, XRP accounted 21% of the global trade volume. Bitcoin ( BTC) was second with 20%. Ether ( , ETH), accounted for 8% in trading during that period.

Related The XRP ruling is a “watershed moment,” but we are not yet out of the woods — Lawyers

Price of XRP is at its highest in 15 months, while trading volume has reached a record high. The report explains the modest increase in trading volume by stating that “global trading activity is subdued.” Altcoin volumes, excluding XRP, did not experience the expected increase.

XRP market cap jumped by $21.2 billion in just hours after the court ruling, moving up to the fourth place. The return of tokens to U.S. cryptocurrency exchanges helped XRP trade. Kaiko reported in its report that XRP has weathered the SEC lawsuit, filed in 2020 with remarkably few downturns thanks to international support.

What’s interesting is that XRP was not negatively affected by the delistings and lawsuits at the time.

After the lawsuit was filed, Upbit and Bithumb saw $467 billion worth of trading. Binance processed more than $600 billion worth of trades during that period.

Kaiko stated that the SEC could appeal the ruling. Brad Garlinghouse, CEO of Ripple, expressed his confidence that a favorable appeal decision would be in favor of Ripple.

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