XRP – the native token of Ripple – has been one of crypto’s best performers ever since the enterprise blockchain provider notched a landmark win in its legal battle against the US Securities and Exchange Commission (SEC). According to Kaiko, XRP trades have recently comprised 21% of the total crypto trading volume, leaving BTC in second position with 20%. Ripple’s court victory acted as a catalyst for the native coin of the organization, which has soared by over 55% in the past four days (per CoinGecko’s data). At one point, XRP neared and became the fourth-largest crypto by market cap, which currently stands at more than billion. In comparison, this figure was approximately billion prior to the judge’s decision. Recent analysis displayed by Kaiko showed that
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XRP – the native token of Ripple – has been one of crypto’s best performers ever since the enterprise blockchain provider notched a landmark win in its legal battle against the US Securities and Exchange Commission (SEC).
According to Kaiko, XRP trades have recently comprised 21% of the total crypto trading volume, leaving BTC in second position with 20%.
- Ripple’s court victory acted as a catalyst for the native coin of the organization, which has soared by over 55% in the past four days (per CoinGecko’s data).
- At one point, XRP neared $1 and became the fourth-largest crypto by market cap, which currently stands at more than $38 billion. In comparison, this figure was approximately $25 billion prior to the judge’s decision.
- Recent analysis displayed by Kaiko showed that trades involving XRP represented 21% of the daily market share of the entire cryptocurrency trading volume. BTC ranked second with 20%, while ETH accounted for 8%.
XRP Trading Volume, Source: Kaiko - One reason behind this significant success could be the massive support coming from multiple cryptocurrency exchanges. As CryptoPotato reported, Coinbase, Kraken, Crypto.com, and Bitstamp re-launched trading services with XRP hours after Ripple’s win.
- Despite the positive trends, the digital asset data provider outlined that XRP volume is “only” at a ten-month high. Daily trading volume involving the coin surpassed $15 billion on a few occasions in 2021 when the whole market was booming.
