Crypto volumes increase post Ripple ruling
Crypto trading volumes across spot exchanges increased following a judge ruling that Ripple’s sales of XRP on public trading venues did not constitute the sale of securities. Data from The Block data dashboard shows the seven day moving average for spot trading volumes increased from $12.74bn on July 12 to $16.56bn.
While the future of the case — which could now go to trial or be appealed — is not clear, the market has rallied on the news with crypto equities like Coinbase and XRP surging in the wake of the ruling from a judge in New York’s Southern District.
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Author: Frank Chaparro
