XRP Liquidity Soars in U.S. After SEC Ruling

Kaiko, a blockchain research firm, reports that XRP liquidity has improved “significantly” in the U.S. since the Securities and Exchange Commission (SEC) case ruling in July.

Ripple’s token XRP is now the most actively traded alternative cryptocurrency on U.S.-based platforms, surpassing Solana’s SOL token regarding trading volume.

According to data published by Dessislava Ianeva, a research analyst at Kaiko, XRP’s cumulative trading volume in the U.S. in 2023 reached $30 billion, while SOL’s cumulative trading volume was approximately $28 billion.

At the time of publication, Litecoin’s (LTC) cumulative volume was below $20 billion.

After Federal District Judge Analisa Torres ruled that XRP is not an unregistered security, except when used to raise funds from institutions, Kaiko claims XRP’s liquidity has improved “significantly.”

The U.S. SEC countered that Ripple raised $1.3 billion through unregistered sales of XRP, which it considered a security.

After the ruling was announced, XRP’s market depth rose from an average of $8 million in June to $12 million in early September, Kaiko notes.

The court’s decision is not, however, a complete victory for Ripple Labs, as the SEC claims that the recent court order in favor of Ripple Labs presents complex legal challenges that necessitate an appeal.

In light of the July 13 court decision, which did not correlate with the SEC’s objectives regarding oversight of cryptocurrency markets, the agency intends to file an appeal.

XRP is trading at $0.51 as of press time, according to data from CoinMarketCap.