Growing Interest in XRP Boosts Exchange Activity
Interest in XRP has surged on digital asset platforms following a favorable court ruling for Ripple Labs against the SEC, clarifying that XRP sold on exchanges is not a security.
Crypto analytics firm Kaiko reports that demand for XRP is making a strong comeback on digital asset exchanges.
Following a protracted legal battle with the U.S. Securities and Exchange Commission (SEC), which concluded with a ruling that XRP sold on exchanges does not qualify as a security, Kaiko notes that interest in XRP has resurged.
The demand for XRP in U.S. markets has been steadily increasing since the landmark court decision last year that granted Ripple Labs a partial victory against the SEC. Over the past year, the share of U.S. platforms in the global XRP trading volume has grown from less than 2% to 14%, reaching levels seen before the SEC lawsuit.
The inability of major exchanges to offer XRP trading during the lawsuit created a buildup of trader interest that has flourished post-ruling. The court’s summary judgment indicated that Ripple’s XRP sales via secondary trading platforms were not securities transactions, although direct sales to institutional investors were considered as such.
After the ruling, several U.S. exchanges, including Coinbase and Gemini, resumed listing XRP, releasing accumulated demand from U.S. traders. Ripple’s ongoing legal issues with the SEC continue to contribute to XRP’s volatility.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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