The court's decision on XRP Ripple has positively impacted liquidity, even as the broader market grapples with uncertainties.
- After a New York ruling, XRP Ripple trading surged in major U.S. exchanges.
- XRP's price hit 15-month highs, but trading activity shows market caution.
- Experts stress the need for blockchain regulations and its financial potential.
In a recent development, XRP Ripple experienced a surge in market depth following a New York federal court ruling. The 4% market depth in major pairs for XRP saw an increase of $3.8M, while the 20% market depth shot up by $11.5M. The substantial boost came after Americans were given the green light to trade XRP on prominent exchanges, including Kraken, Crypto.com, Coinbase, and Bitstamp, within a day of the ruling.
Efficient Frontier, an algorithmic market maker, shared Kaiko’s latest analysis of XRP:
However, these liquidity upticks appear modest when juxtaposed with XRP's towering $41B market cap. KaikoData's latest analysis revealed that despite XRP's price soaring to 15-month highs, the global trading activity seems reserved, peaking at only 10-month highs. This indicates a restrained response from the worldwide trading community even after the favorable ruling.