Ripple’s local asset, XRP, has started bullish attacks again after it started to move sideways after last week’s rally. XRP investors priced positively on Judge Sarah Netburn’s order to reach a settlement with the SEC yesterday. After this development, XRP, which increased the 24-hour value to 8%, tested above $ 0.8 again and currently has the best performance among the top 20 cryptocurrencies.
The fact that the bullish perception remains alive in XRP has accelerated the speculations in the market that the crypto money may rise to the 1 dollar band in the near future. On the other hand, with the price increase, the trading volume of XRP on exchanges remains high. According to the latest data, the trading volume of XRP on major crypto exchanges has increased by close to 40% in the last 24 hours to $ 3.3 billion. Binance data shows that XRP is the most traded cryptocurrency after Bitcoin, with a trading volume of close to $590 million. The situation is no different in South Korean exchanges, which have been driving altcoin trading lately. For example, XRP transactions were reported to account for 33% of the total volume of Upbit, South Korea’s largest exchange.
While a consolidation is seen in the rest of the market, it is seen that the bullish perception continues for XRP, which has price movements that diverge from the market with the positive developments in the Ripple case. While it was decided last week that XRP is not seen as a security in individual sales, this week, the Magistrate’s Court’s reconciliation order ensures that the gains in crypto money are protected and higher-level attacks are coming.
After the court rulings, which are seen as extremely positive developments for Ripple, the company seems to intend to accelerate its activities in the USA. Ripple executives stated that after the court decision, many US banks would be willing to work with Ripple. On top of that, the latest rumors in the market include that Ripple has started to research how to use the cross-border fund transfer system using XRP in the USA.