Crypto spot volumes increase post Ripple ruling

Quick Take

  • The recent ruling regarding Ripple’s sales of XRP as not constituting the sale of securities has underpinned a surge in crypto trading volumes.

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's data dashboard shows the seven day moving average for spot trading volumes on exchanges increased from $12.74 billion on July 12 to $16.56 billion on July 14.

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 cryptocurrencies like XRP surging in the wake of the ruling from a judge in New York’s Southern District.

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