Coin

<ul class="news-points wp-block-list" "wp-block-list"> 
 <li>XRP surged 20% earlier this week following Ripple’s $125 million penalty.</li> 
 <li>Robust liquidity supports XRP’s growing demand in the US.</li> 
 <li>XRP’s recent rally forms part of sustained growth in the past year.</li> 
</ul> 
XRP surged 20% earlier this week after a U.S. Federal Court ruling that fined Ripple Labs $125 million for selling XRP to institutional investors. Ripple executives and supporters <a href="https://coinedition.com/ripple-secures-big-legal-win-but-questions-remain-on-the-victory/">chose to term it as a victory</a>, considering the SEC had initially sought a $2 billion penalty. 
XRP’s recent surge reflects the growing demand for the cryptocurrency since last year’s court ruling that XRP is not a security. This ruling has triggered steady growth in XRP demand across U.S. markets. 
CCData, a leading digital asset data and index provider, attributes XRP’s growing demand in the U.S. to the relatively greater liquidity offered by U.S.-based exchanges. A comparison of top XRP pairs on selected U.S. and offshore exchanges reveals a 30% variation in 1% market depth in favor of U.S. exchanges. This robust liquidity makes executing large transactions at market prices easier. 
The CCData-observed scenario justifies the ongoing XRP whales’ inclination toward crypto exc…
The post <a href="https://coinedition.com/heres-why-xrp-whales-choose-u-s-exchanges-ahead-of-others/">Here’s Why XRP Whales Choose U.S. Exchanges Ahead of Others</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Here’s Why XRP Whales Choose U.S. Exchanges Ahead of Others

Coin Edition

Other articles published on Aug 9, 2024

Best Altcoins for the Next Bull Run: These 7 Coins Will Change Your Life

Ripple begins testing RLUSD stablecoin on Ethereum and XRP

BTC ETF Options Coming Soon? Bloomberg ETF Analyst Notes ‘Some Movement’

Uniswap Ethereum L2 addresses reach new high of 8.5m

Solana prevents potential outage, patches critical vulnerability

What Are the Chances of the Next Big Breakthrough in Bitcoin Happening Before 2025? Here’s What E...

Join our free newsletter for daily crypto updates!