The XRP token has asserted its dominance in the crypto market ahead of the highly anticipated ruling in the SEC v. Ripple case, reports Kaiko. According to the latest research from the smart data portal, XRP has skyrocketed to become the third most traded token, trailing only Bitcoin (BTC) and Ethereum (ETH) in terms of volume and liquidity depth.
Tomiwabold OlajideInvestors are now eagerly positioning themselves for the expected verdict, which has led to a surge in the trading volume of XRP, especially on Korean exchanges. The once-dismissed token has defied expectations, climbing the ranks and capturing the attention of the whole crypto community.
Speculation and anticipation have reached fever pitch as the legal battle enters a decisive phase. The protracted timeline, far beyond initial March projections, has only amplified the market's interest. With each passing day, more questions and intricate details surrounding the case emerge, fueling discussion among not only crypto enthusiasts but also legal experts closely following the proceedings.
All eyes are now firmly fixed on the impending verdict, which is expected to have far-reaching implications for both Ripple, XRP and the crypto industry as a whole.
In general, despite the legal uncertainty, Kaiko's report highlights the overall stability of global liquidity in the crypto market throughout the second quarter. Apart from the drops observed in tokens involved in the latest SEC lawsuits and a few exchange-specific declines, such as Binance US, liquidity has remained flat.
Tomiwabold Olajide
Dan Burgin
U.Today Editorial Team
Vladislav Sopov