XRP witnessed an increase of $1.5 Billion in trading volume due to the success of the lawsuit against the SEC. This significant increase in trading volume holds high potential for XRP and other cryptocurrencies like Shiba Inu and Bitcoin Spark.
XRP’s Battle With The SEC
XRP, the native token of Ripple Network, has been handling legal battles with the U.S. Securities and Exchange Commission (SEC) over the classification of XRP as a security. Despite this issue, XRP has stayed resilient and has now experienced a remarkable increase in trading volume. This increase has sparked a discussion about its potential impact on other cryptocurrencies.
Ripple has won a court battle with the SEC, providing transparency for the company’s future operations and reaffirming that XRP is not a category of securities. Ripple is now focusing on managing its revival in the United States. XRP price has risen as a result of this development.
The SEC action has also impacted the XRP price in the US, although there has been a recent surge in the prospect of an increasing shift. This is owing to Ripple’s increased emphasis on partnerships and growth. This positive development is because of Ripple’s reasonable lawsuit settlement and tactical approaches to harness regulatory clarity.
Understanding Trading Volume Surge
The abrupt surge in XRP trade volume is an essential indicator of increased market activity. The entire quantity of a cryptocurrency exchanged within a given time frame is called trading volume. A rise in trade volume frequently indicates increased investor interest, resulting from various factors, including market sentiment, news, and developments surrounding the asset.
And for Ripple, the company’s success with the lawsuit inspired a surge in Trading volume.
Implications for Shiba Inu and Bitcoin Spark
The surge in XRP’s trading volume can affect other cryptocurrencies, particularly those that have a passionate and active community like Shiba Inu and Bitcoin Spark
Shiba Inu got to the spotlight through its meme-based storyline and community-based approach, which has helped it maintain a solid presence amidst unstable market conditions.
With XRP’s trading volume surge, some of the market interest might be on Shiba Inu. Investors can turn their eyes to other cryptocurrencies as XRP has had massive success with the lawsuit case, further boosting SHIB’s trading volume and market sentiment.
Bitcoin Spark (BTCS)
Bitcoin Spark is known for its unique approach to generating passive income. Unlike other notable cryptocurrencies, Bitcoin Spark doesn’t use the PoW or PoS consensus mechanism. Instead, it uses an all-new blockchain technology, Proof of Process, for its activities. BTCS can also experience a trading volume surge due to XRP’s move in the market. Increased trading volume will also put BTCS out for more opportunities as it already has utilities that make it stand out.
The crypto market is unpredictable and unstable. There can be accurate predictions, but there is no possibility till it happens, and that’s the same story with Ripple. It is important to note that many issues affect market trends; in this case, winning a lawsuit brought XRP back to the spotlight. If XRP’s trading volume influences Shiba Inu and Bitcoin Spark, there will be a buzz in the crypto market.
Here are links to get started on Bitcoin Spark (BTCS):