XRP Lead Crypto Market With 12.8% Increase
A report shows that XRP leads the crypto market with a 12.8% month-to-month increase. This was made known by the leading crypto exchange. According to them, XRP has emerged as the best-performing asset in the crypto market.
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According to the report, despite the terrible initial market experience at the beginning of the week, XRP holding up to an upward trajectory.
putting their achievement on a year to-date-scale, XRP has witnessed a change of over 50%, sustaining its value above $0.50 mark.
Read Also: New Document Proving that XRP Is Not A Security Shared By Top Lawyer
Open Interest of XRP Crosses $500M
According to a pro-grade market data provider Kaiko, he recently reported a significant surge in open interest for XRP since the last week of May. This interest summed up to a yearly high of more than $500 million, which help in Bolstering XRP’s position as the top player in the crypto industry.
Open interest OI aims at giving insight into trading activity with also market sentiment. As a result, a high open interest postulates active trading and substantial interest.
For the unaware, open interest as referred to as OI is the total number of derivative contracts that is outstanding at a particular time which indicates the number of contracts that have been entered into, which is still active, that is it is not yet closed, not yet exercised or expired.
Read Also: Coinbase Slammed by Attorney Bill Morgan For Not Willing to Support XRP Secondary Market Sale
Progress on the SEC’s Lawsuit.
The court recently ruled the case in favor of Ripple, asserting that SEC can not seal Hinman’s document from spectators.
The public on that note is waiting eagerly to view the document which will be released by SEC on 18 June.
The XRP community remains hopeful that Judge Torre’s ruling will favor them even as the date for the final judgment is not announced. They expressed optimism that the judgment will not reach the end of the month.
While XRP keeps doing great and aiming to be ahead of its crypto counterpart, investors and crypto enthusiast are also waiting earnestly for the outcome of the SEC lawsuit final Judgement.
Meanwhile, the fact that the Lawsuit is almost coming to an end and the recent lawsuit against Ripple’s counterparts is an indication that they have already a journey that others are about to start.
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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.
