The recent verdict on the Ripple-SEC case has sparked renewed interest in the XRP token, with several cryptocurrency specialists believing that the increasing interest in Ripple’s token is related to the case. The case, which has been ongoing for several months, saw the SEC accuse Ripple of selling unregistered securities in the form of XRP tokens. Ripple has denied the allegations and has been fighting the case in court.
The recent verdict saw the judge rule in favor of Ripple, stating that XRP is not a security. This ruling has been seen as a major victory for Ripple and its supporters, who have been campaigning for the case to be dismissed. The ruling has also been seen as a positive development for the wider cryptocurrency industry, as it provides clarity on the regulatory status of cryptocurrencies.
The Whale Alert AI service has documented several transfers of XRP tokens in the past 24 hours, with the most significant transfer being 100 million XRP tokens from a Ripple wallet to an unidentified recipient. The total number of XRP tokens exchanged was 360 million, valued at over $136 million.
The market monitoring tool CoinMarketCap has reported an 18% increase in XRP’s 24-hour volume, with crypto traders purchasing and selling $1.1 billion of the currency. This surge in trading activity is seen as a sign of renewed interest in XRP, following the recent verdict in the Ripple-SEC case.
Overall, the recent developments in the Ripple-SEC case and the surge in XRP trading activity are seen as positive signs for the cryptocurrency industry. With regulatory clarity on the horizon, investors and traders are expected to continue to show interest in cryptocurrencies like XRP.
