The Ripple vs. SEC case saw an unprecedented influx of demand for XRP, as it became a worldwide sensation among traders. Despite the lengthy period of legal uncertainty and trading restrictions, the altcoin managed to surge in unprecedented heights. Building on the positive court ruling, XRP experienced a sharp uptick in trading volumes, reaching its 76th highest of nearly $10.4 billion on July 13th. Leonidas’s tweet on the day characterised the potentially bigger surge which could come ahead, giving perspective to the already remarkable accomplishments made. Sure enough, XRP saw its trading volume grow organically in what proved to be its best day of trading since the beginning of the year. On the back of this breakout day, XRP rose by 85% to set its price around $0.78. Market capitalization witnessed an uptrend too, scaling to unprecedented heights to provocatively take the position of 4th largest cryptocurrency in terms of market capitalization. Derivatives saw impressive stats too, as developed heightened by increased funding rates and open interests for XRP derivatives more so than ever. All in all, the future appears to be shaping quite positively in regard to XRP thanks to the extremely favourable court ruling.
