Ripple XRP Claims Top Spot, Outshines Bitcoin in Trading Activity

Vignesh Karunanidhi
Ripple XRP Leads Altcoin Market, Leaving Bitcoin Trailing Behind
Source: Forkast News

A US judge recently made a conclusive decision stating that Ripple XRP should not be considered a security, bringing an end to the ongoing dispute between XRP and the SEC. Additionally, the announcement had a significant impact on the price of XRP, leading to an immediate 30% increase in its value. In addition, Ripple XRP trading activity also saw a benefit, with trading volume surging by over 800% following the positive news.

Also read: US Judge Rules Ripple XRP is Not a Security

XRP is currently trading at $0.739461 as it lost over 4% value over the last 24 hours. Despite the recent drop in price, XRP touched $0.8875 before falling to its current price. According to data from Kaiko, XRP has dethroned Bitcoin to become the most traded cryptocurrency in terms of volume.

XRP captures 21% of all crypto trade volume

Even though XRP is the fourth-largest cryptocurrency by market cap, the recent surge in price and trading activity has helped Ripple attain some notable numbers. The data shows that XRP’s market share of crypto trade volume stands at 215, while BTC stands at 20%. Additionally, ETH stands at 8%, and other altcoins occupy 51% of the market share.

The eye-catching numbers can be attributed to the shocking yet positive news of the much-awaited Ripple v. SEC lawsuit.