Ripple's legal win led to a 30% XRP price surge and increased speculation about an ETF.
Binance US highlighted XRP’s capability to handle 1,500 transactions per second.
Bitnomial Exchange’s XRP/USD futures contracts enhance market liquidity and ETF speculation.
Ripple's recent legal victory over the Securities and Exchange Commission of the United States has profoundly altered the cryptocurrency landscape. Binance US has taken advantage of this momentum by offering a thorough analysis of XRP. Due to this development, there is now more discussion and conjecture about what will happen to XRP in the future, especially in relation to its possible inclusion in an ETF.
https://twitter.com/BinanceUS/status/1823832492291318126 Legal Victory Sparks Interest
A significant legal win for Ripple on August 7 was a major contributing factor to the resurgence of interest in XRP. The court found that there was no violation of federal securities laws by Ripple when it sold XRP to retail investors via the exchange.
Notably, The price of XRP surged by over 30% as a result of this decision, hitting levels not seen since April. Despite obstacles to the rally, the general outlook is still optimistic.
Binance US Provides Detailed Insights
Recent platform updates from Binance US include important information about XRP. The discussion made it clear that David Schwartz, Jed McCaleb, and Arthur Britto founded XRP in 2012. XRP Ledger Consensus Protocol, the cryptocurrency's operating system, is different from Bitcoin's proof of work mechanism.
Furthermore, Binance US noted that the XRP Ledger's scalability and efficiency are demonstrated by its ability to process 1,500 transactions per second. The possibility of an XRP ETF has been brought up in conversation by this update.
Market Reactions and Future Prospects
Notably, the market's reactions to the Ripple case outcome have been overwhelmingly positive. According to analysts, the price pattern of XRP shows a bullish flag, pointing to a possible rally. The amount of XRP available on exchanges is declining as investors hold onto their holdings in hope of future price growth. Smaller holders have seen a rise in retail accumulation, while some larger investors have decreased their positions.
Furthermore, there is now more conjecture regarding an XRP ETF due to Bitnomial Exchange's recent announcement of XRP/USD futures contracts. These contracts represent the value of 100,000 XRP units and are set to be physically settled and margin-based. This action is thought to be a step toward improving market liquidity and accessibility.
The post Binance US Reveals XRP Details Post-Ripple Victory: Scalability Insights Fuel ETF Hopes appeared first on Crypto News Land.
