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XRP overtakes Bitcoin: Ripple legal victory drives the trading volume
XRP exceeds Bitcoin in the commercial volume and, according to the right victory, increases the native token of the Ripple network, XRP, exceeded Bitcoin's trading volume and now accounts for 21 % of the total cryptocurrency volume of last week. This success is the result of a significant legal victory for Ripple. The US stock exchange supervision SEC had taken legal action against Ripple and claims that the company had not sold registered securities. However, a federal judge in New York decided that XRP is only a security if it is sold directly to institutional investors as part of specific written contracts. However, if the token via crypto exchanges to private investors ...
XRP overtakes Bitcoin: Ripple legal victory drives the trading volume
XRP exceeds Bitcoin in the trading volume and rises to
after the legal victory According to reports, the native token of the Ripple network, XRP, has exceeded Bitcoin trading volume and now accounts for 21 % of the total cryptocurrency volume of the past week. This success is the result of a significant legal victory for Ripple.The US stock exchange supervision SEC had started legal steps against Ripple and claims that the company had not sold registered securities. However, a federal judge in New York decided that XRP is only a security if it is sold directly to institutional investors as part of specific written contracts. However, if the token was sold to private investors via crypto exchanges, it is not considered a securities.
This decision led to a renewed listing of XRP on large cryptocurrency exchanges and a significant increase in demand and the commercial volume. XRP experienced a rally at which the price rose by about 65 %. Although the value of XRP has dropped by 20 % after reaching its latest maximum, the market mood did not subdue. The increase in the weekly trade volume shows an increased interest and increased activity around the token.
In contrast, Bitcoin had difficulty exceeding the $ 30,000 mark. The most recent increase in the XRP trade volume has temporarily overshadowed Bitcoin's long -standing volume dominance. Bitcoin has exceeded the $ 30,000 mark in the last 24 hours. Bitcoin's market capitalization has decreased by over $ 30 billion in the past few days.The success of XRP and Ripple's legal victory show that both the interest in and the activity around the token has increased. This questions the dominance of Bitcoin and points out that the cryptocurrency market can constantly evolve and that new players can arise. It remains to be seen how XRP and Bitcoin will develop in the coming weeks and months.