Ripple demand soars post SEC case win; Astonishing trading volume and global attention captivate investors, fueling excitement.
The cryptocurrency community is buzzing with excitement as XRP experiences a surge in demand and social activity following the favorable ruling in the high-stakes Ripple vs. SEC case. With an astonishing trading volume surpassing one million trades per minute, XRP has captured the attention of investors worldwide.
Prominent figures within the crypto world, like self-proclaimed “Crypto Crusader” and entrepreneur Nick, are fervently backing the potential growth of XRP. Nick expressed his awe at the skyrocketing demand and believes that this is just the beginning of XRP’s remarkable journey. Market intelligence tool, Fiatleak, confirms that XRP has reached the milestone of one million trades per minute globally.
Nick and other enthusiasts are not alone in their enthusiasm, as the trade volumes for XRP over the past several days demonstrate widespread market interest in the digital asset.
According to the social analytical resource LunarCrush, XRP’s social engagement statistics have now surpassed those of Ethereum (ETH) and are inching closer to rivaling those of Bitcoin (BTC). Post the court ruling, XRP has garnered an impressive 31,730 social engagements compared to ETH’s 20,666, securing its position as a dominant player in the social media landscape.
This achievement comes after XRP had already claimed the top spot on the LunarCrush AltRank, a ranking system that considers social and market activity, just hours after the judge’s ruling.
Ripple’s SEC Case Victory Fuels Trading Volume Surges
The ruling that clarified most of Ripple’s XRP sales as non-securities has directly contributed to the surge in exchange trading volumes. Uphold, a prominent exchange, experienced platform issues as XRP’s volume skyrocketed to $10.39 billion on July 13. Swift’s relisting on major exchanges like Coinbase and Kraken further fueled this volume surge.
Notably, Korean investors have played a significant role in driving up XRP’s demand, with South Korea’s largest exchange, Upbit, reporting the highest XRP trade volume globally, amounting to $2.5 billion in 24-hour volume on July 14.
Binance holds the largest share of XRP trade volume at $688 million, making up 21.91% of the total volume. OKX secures the second position with $161 million in XRP trade volume, followed by Coinbase in ninth place with a volume of $50 million.
The combination of surging trade volumes and social activity cements XRP’s growing prominence in the crypto market. The victory in the Ripple vs. SEC case appears to have acted as a catalyst for renewed interest in the digital asset, marking a significant turning point for XRP’s future prospects.