*XRPUSDT UPDATE*
Despite the ongoing Ripple vs SEC case and market uncertainty, XRP is witnessing a remarkable 266% surge in buying from institutional investors.
Last week, institutional purchases jumped to $1.1 million, up significantly from just $0.3 million the previous week. This substantial increase reflects growing confidence in XRPâs potential, especially following Rippleâs favorable outcomes in recent court rulings.
*Is this the turning point for XRP?*
As the XRP price climbs over 1% to approximately $0.54, market enthusiasm is palpable. The 24-hour trading volume has surged by 45%, demonstrating heightened interest from traders amid the ongoing legal developments. With Rippleâs legal victories bolstering optimism, investors appear poised for a significant rally in XRPâs price.
*Ripple vs SEC: How Is It Impacting the Market?*
The buying frenzy comes as Ripple prepares for appeals in the Second Circuit Court. The SEC recently decided to challenge Judge Torresâ ruling, which set a $125 million fine instead of the nearly $2 billion initially sought. This move has faced criticism from the crypto community, with Ripple CEO Brad Garlinghouse arguing that the cross-appeal aims to push back against the SECâs regulatory overreach and advocate for clearer regulations.
