XRP tops Bitcoin on Upbit with $2.6B in trading volume in 24 hours

The trading measurement of XRP tokens connected the South Korean crypto speech Upbit has surpassed that of Bitcoin (BTC) successful the past 24 hours. The XRP/KRW trading brace saw $2.6 cardinal successful trading measurement successful the past 24 hours owing to Ripple’s partial triumph against the United States Securities and Exchange (SEC) Commission successful its long-drawn tribunal battle.

The buying frenzy for XRP saw the token relationship for 46% of each trading measurement connected Upbit followed by Bitcoin with conscionable 5% of the full share. XRP token led the bullish momentum successful the crypto marketplace successful the past 24 hours helping respective different altcoins to emergence successful treble digits.

24 hr trading measurement connected UpBit, Source: Coingecko

The buying frenzy for the token was not constricted to South Korea. The XRP terms saw an 92% surge connected July 13, reaching a caller one-year precocious of $0.91. This surge helped XRP to ascent to 4th spot successful the marketplace headdress ranking from seventh position. Within hours of the tribunal ruling, the XRP token’s marketplace headdress soared by arsenic overmuch arsenic $21.2 cardinal to scope a caller yearly precocious of $46.1 billion.

Related: Why is XRP terms up today?

On July 13, Judge Torres gave a summary judgement successful favour of Ripple Labs, ruling that the XRP token is not a security. However, the ruling refers to the token’s income connected integer plus exchanges. The judgement was greeted with alleviation by the XRP assemblage arsenic the SEC suit filed successful 2020 forced respective crypto exchanges successful the U.S. to delist the XRP token. The likes of Coinbase, Kraken, OKX and Gemini person already announced relisting plans.

The crypto assemblage celebrated the win, with many describing it arsenic a watershed moment, portion others cautioned that it was lone a partial triumph truthful far. Stephen Palley, a lawyer, noted that the summary judgement is lone partial and that the ruling by Judge Torres whitethorn not acceptable a precedent. He besides reminded the crypto assemblage that the SEC whitethorn precise good entreaty against the judgment.

Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.

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