• XRP, the native token of Ripple, has recently surpassed Bitcoin and Ethereum in terms of trading volume following Ripple’s win in its legal battle against the US Securities and Exchange Commission (SEC).
• XRP trades have accounted for 21% of the total crypto trading volume, with BTC in second place with 20%.
• The surge in XRP’s price has been attributed to multiple cryptocurrency exchanges relaunching their trading services with XRP.
XRP Surpasses Bitcoin and Ethereum In Terms Of Trading Volume
XRP – the native token of Ripple – has skyrocketed by over 55% in the past four days following a landmark win in its legal battle against the US Securities and Exchange Commission (SEC). According to Kaiko, XRP trades have recently comprised 21% of the total crypto trading volume, leaving BTC in second position with 20%. At one point, XRP neared $1 and became the fourth-largest crypto by market cap which currently stands at more than $38 billion.
Cause Of The Surge
The cause of this surge can be attributed to multiple cryptocurrency exchanges re-launching their trading services with XRP hours after Ripple’s win. Coinbase, Kraken, Crypto.com, and Bitstamp saw an influx of traders taking advantage of this opportunity. Despite this positive trend however, Kaiko outlined that the volume is “only” a fraction compared to what it was pre-SEC lawsuit.
What Does This Mean For The Future?
With every passing day it seems like more institutional investors are choosing cryptocurrencies as an asset class for hedging risks associated with inflation or volatility. Many analysts believe that this could potentially catapult altcoins such as XRP into higher positions on coin rankings lists. Although time will tell if this prediction comes true or not there’s no doubt that many people are now more optimistic about cryptocurrencies than ever before.
Ripple’s Outlook Post SEC Win
Ripple is now free to continue operating without worrying about any further legal issues from the SEC. This will enable them to focus entirely on continuing their mission: building financial infrastructure for banks and payment providers around the world using blockchain technology. With new partnerships being formed regularly between Ripple and international banks it appears that they may finally achieve their goal in providing seamless payments across borders within a few years time – something we can all look forward too!
Conclusion
In conclusion it seems that despite some initial hiccups due to regulatory issues; Ripple’s long term plan appears to be well on track towards achieving success! Seeing how far they’ve come since launching back in 2012 gives us hope for what lies ahead – especially given recent events surrounding XPR’s daily trading volumes surpassing those of both Bitcoin and Ethereum!