XRP Trading Volume Skyrockets 235% in a Day

Bittime - In the last few days, XRP experienced a significant spike in trading volume, increasing by 235% in the last 24 hours. 

This comes as the crypto market recovers from the previous downturn and following the completion of a four-year legal case between Ripple and the SEC (Securities and Exchange Commission). 

With this case over, XRP no longer faces major obstacles, and is now showing a strong bullish trend.

Ripple Settles Case with SEC For $125 Million

The price of XRP has been affected since 2020 when the SEC filed a case against Ripple for selling unregistered securities. 

In 2023, a court ruled that direct sales of XRP through exchanges did not violate securities laws. 

However, selling XRP directly to institutional clients was deemed to violate federal securities laws, and Ripple was fined $1 billion.

Recently, Judge Analisa Torres of the Southern District Court of New York again heard a case regarding the sale of unregistered securities worth 1.278 million XRP to institutions. 

In the decision, the initial fine of $1 billion was reduced to $125.035 million to be paid by Ripple. This settlement has triggered a surge in the price of XRP, which is now ready to return to the bullish trend and is predicted to reach $1 in the near future.

Read also: Soon, DOGS Listing will be announced August 14 2024

XRP Purchase Volume Surge By 235%

Following the settlement of the case with the SEC, the price of XRP surged, and its purchase volume increased drastically by 235% in the last 24 hours. 

On August 8, 2024, Ripple's price fell drastically to $0.4318 but managed to leave the support level and is now trading at $0.5863 at the time this article was written. 

This spike in purchase volume shows high interest from crypto investors who are trying to maximize profits from XRP.

With the legal situation now clearer and positive trends visible, many predict that XRP will soon reach $1. 

Apart from that, social chatter and the latest analysis also show that XRP is becoming a hot topic of conversation among crypto investors. This surge in interest could be an indication that XRP will become a valuable asset in the future.

Conclusion

After settling the legal case with the SEC, XRP no longer faces major obstacles that have hampered its growth. 

With a significant surge in trading volume and increasing interest from investors, XRP is now showing a strong bullish trend and is predicted to reach $1 in the near future. 

Crypto investors seem increasingly convinced that XRP could become one of the most profitable assets in the crypto market today.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.