XRP Trading Volume Spikes As Court Negates SEC’s Claims

XRP price was retarded by the ongoing lawsuit with SEC. However it seems that token is finally breaking free from the shackles of the lawsuit and ready to grow. The recent court rulings have also boosted the credentials of the altcoins and have pushed its piece higher.

XRP Trading Volume Surge Hints At Something Big

The Ripple token trading volume surge hints at something big in offing. As per data received from Santiments , the XRP platform recorded some of the biggest activities on Friday which saw a steep surge up to $18.7 billion was seen in the token’s trading volume in the penultimate hour of the day. This surge shows that there is something big in the offing.

😮 #XRPNetwork saw a major anomaly to end the week, with a rapid surge up to 18.7B in $XRP trading volume in the final hour of Friday (UTC time). This may be worth monitoring for some unordinary upcoming weekend price action. 📊https://t.co/5ohmnn81WE pic.twitter.com/G6g78itdMn

— Santiment (@santimentfeed) July 16, 2022

Data reveals that Ripple Native token trading volume remained steady at $2 billion at the start of the day. However it surged to touch $18.7 billion by the close of the day. The altcoins 24 hour trading volume stood at at $1.26 billion.

As per Whale Report the period included some gargantuan transactions. One whale hoarded a whopping $14.8 million worth of token for the Bitstamp crypto exchange platform. Another around $30 million worth of XRP tokens were dispatched from Unknown wallets to crypto exchanges.

XRP Prices Have Surged By 7% In The Past One Month

Ripple Native token prices have surged by 7% in the past one month. The coin was trading at an average value of $ 0.3494, at the press time. The coin has grown by 6.36% in the last 24 hours. The coin has been facing long running lawsuit the token and still commands a market cap of more than $16.46 billion.Ripple Native token remains the top favorite of the BSC whales. The biggest of the BSC whales are now holding more than $16 million worth of XRP tokens.

Ripple’s ex CTO Jed McCaleb has been selling his holdings to the point of nil holdings. McCaleb as per a report will have exhausted all his XRP tokens by the end of July 16, 2022.

Meanwhile, XRP holders’ lawyer has questioned this selling against the assertion of the U.S SEC.