In the US, top crypto exchanges have seen a dramatic increase in their demand for Ripple’s native coin, XRP. Ripple’s chances of winning the SEC suit have improved since the recent decision in its favor. The cryptocurrency market is experiencing a positive change as a result of this development.
Kaiko Analytics published a report that showed a rise in demand for XRP from less than 2 percent to 14 percent within a single month. Investors are optimistic about the price of XRP, as evidenced by the increase in demand for Ripple’s native token.
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Investment Interest in Ripple (XRP) has increased
During the SEC vs Ripple litigation, a few cryptocurrency exchanges delisted XRP. The altcoin was relisted last year after the landmark decision that determined that XRP wasn’t a security. After the relisting, the pent up trader interest blossomed and the altcoin saw a return in investor interest.
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“Since last year’s landmark court ruling, which granted Ripple Labs a partial victory against the SEC, demand for XRP in US markets has grown steadily. The share of US platforms in global XRP volume has increased from less than 2% to 14% over the past year, matching levels from before the SEC suit,” Writer Kaiko Analytics.
It added. “The summary judgment stated that Ripple’s XRP sales through secondary trading platforms were not securities transactions, although direct sales to institutional investors were. Following the ruling, several US exchanges, including Coinbase and Gemini, relisted XRP, releasing pent-up demand from US traders. Ripple’s ongoing legal battle with the U.S. SEC continues to fuel XRP’s volatility.”
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It is possible that Ripple’s native token will continue to rise. The price is up by almost 22% over the last 30 days, and it could keep going. Altcoin’s price fell after the recent crash, but it is slowly recovering.
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Source: watcher.guru
