XRP Demand on Crypto Exchanges Returns to Pre-Lawsuit Levels, Reports Kaiko Analytics
Demand for XRP on digital asset exchanges has rebounded to pre-lawsuit levels. According to Kaiko Analytics.
Following a favorable court ruling for Ripple Labs, which determined that XRP sales on exchanges are not considered securities, XRP demand in U.S. markets has surged. The share of U.S. platforms in global XRP trading volume has increased from under 2% to 14% over the past year. This rebound follows the relisting of XRP on major U.S. exchanges like Coinbase and Gemini. Which had previously suspended trading due to the SEC lawsuit.
Despite recent volatility and a drop in prices, XRP’s performance has outpaced Bitcoin’s in recent months. Driven by speculation surrounding the SEC’s legal actions. As of now, XRP is priced at $0.490, while Bitcoin is at $54,688.
Clever Robot News Desk 7th August 2024
