The market makers’ degree of interest in the cryptocurrency market increased as September began, and by the middle of the trading day, XRP had significantly increased its trading volume. Data from CoinMarketCap shows that XRP’s trading volume, which is now estimated to be $1.158 billion, has unexpectedly increased by 35.74%.
This remarkable increase is evidence that XRP bulls are currently experiencing a special buy-up trigger, which is driving the run-up in cumulative volume. The likelihood that the purchased XRP may be used for storage, which would significantly lower the total number of coins in circulation, suggests that the price of XRP has a high upside potential in the near future.
At present time, XRP offers a number of appealing incentives that might pique consumers’ curiosity.
After Judge Analisa Torres determined that Ripple Labs Inc.’s trading on exchanges does not constitute an investment security, it is primed in such a way that its future is no longer uncertain as the main defendant in the lawsuit between the blockchain payments company and the US Securities and Exchange Commission (SEC).
Growing XRP ecosystem
Since the landmark decision, XRP has drawn the attention of several new protocols in the ecosystem of digital currencies. With this allure, more initiatives are now finding their way onto the XRPL, the Ripple ecosystem’s centre for smart contracts.
Although the XRPL is still in its early stages of development, people are starting to accept the protocol. U.Today announced that a recent XRP snapshot has been finished. The next distribution of the EVRS token depends on the snapshot that was taken at Ledger “#82237135” on the XRP mainnet.
This understanding is crucial and might be the reason why more users are currently optimistic about the protocol.
