At a time when the majority of the most important assets, including Bitcoin (BTC), Ethereum (ETH) and Binance Coin BNB, are losing. XRPstarted a rally where it has gained over 5% in the last 24 hours. The asset’s rise comes after the recent rulings by Judge Torres in the Ripple vs SEC case.
Top Earning XRP
XRP’s biggest intraday gain since last month came yesterday when news emerged that Judge Analisa Torres made a series of rulings regarding Ripple and the motions submitted by the US SEC. Altcoins closed the day with an increase of 3.56%.
XRP has now rallied as high as $0.4616 for the first time in more than a week based on this positive close. Although XRP has met with stiff resistance at this point, it has maintained its gains yesterday and took its place among the top earners in the past day.
According to CoinMarketCap data, XRP has gained 5.19% in the last 24 hours, making it the third highest earning asset among the top 100 assets. XRP is trading at $0.4442 at the time of writing, up 4% last week.
XRP’s 24-hour trading volume also showed an impressive increase. With a volume of $1.4 billion, XRP ranks third after BTC and ETH in terms of trading volume of non-stablecoin assets. This metric indicates an increase in investor interest.
The Reason Behind the Rally
Judge Torres recently made an important ruling on the motions submitted by Ripple and the SEC. The decision was the judge’s decision to reject the SEC’s request to conceal the notorious Hinman documents. Judge Torres ruled that the documents should be made public.
Following the decision, Ripple CEO Brad Garlinghouse announced today that lawyers have started the legal process to make the documents public. While Ripple continues to emphasize the importance of the documents, the decision has rekindled optimism among investors.
With the lawsuit one step closer to the end, investors want to procure XRP before a final run, which increases demand. It’s important to note that XRP’s previous stand-alone run was driven by demand pumped into the asset by investors amid speculation that the litigation is over.
Source : The Crypto Basic