Summary
- It was reported that XRP's trading volume increased by 33.96% and its price fell by 7.29% following the suspension of legal proceedings between Ripple and the US Securities and Exchange Commission (SEC).
- After the temporary halt to the legal battle, it was stated that selling activity in XRP rose and $4,740,000,000 worth of XRP was moved.
- Concerns have emerged that investors may lose confidence in XRP's potential as regulatory clarity could be delayed due to the prolonged legal dispute between Ripple and the SEC.
Following the suspension of legal proceedings between Ripple and the US Securities and Exchange Commission (SEC), XRP's trading volume increased by 33.96% while its price dropped by 7.29%.
According to U.Today on the 17th (local time), after the temporary suspension of the legal battle, selling activity in XRP intensified, resulting in $4,740,000,000 (USD) worth of XRP being moved. As a result, XRP's trading volume saw a significant rise of 33.96%, but its price fell sharply by 7.29%.
The media outlet noted, "The market's response indicates that investors are concerned about the impact of the recent Ripple and SEC legal dispute on XRP's potential," adding, "If the court appeal remains on hold for an extended period, regulatory clarity regarding XRP could be delayed, leading investors to lose confidence in the token's potential."
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
![Bitcoin retakes KRW 100 million amid reports of secret US-Iran contacts…$72,000 in focus [Kang Min-seung’s Trade Now]](https://media.bloomingbit.io/PROD/news/3beef0db-a8f6-4977-9dca-6130bf788a69.webp?w=250)
![[Analysis] “ETFs and short covering drove Bitcoin’s rebound…on-chain indicators are mixed”](https://media.bloomingbit.io/PROD/news/6c7dbd31-4aeb-400e-9c43-c2843062fc66.webp?w=250)
