Ripple price races to $1.0, records the largest crypto asset hourly volume as chatter to list XRP intensify
- Ripple has recorded the largest crypto asset hourly volume, reaching 2 billion after court summary judgment. Bitcoin at 50.45K.
- Gemini's executives have lauded the court for beating the SEC and Chair in writing clear rules for crypto.
- Gemini now has cause to proceed with plans to list XRP after court-issued clarity, Ripple lawyer calls out remaining exchanges.
- It comes after Judge Torre's summary judgment articulated a distinction between token sales to institutional investors versus to the general public.
Ripple (XRP) price shows a stark bullishness on all timeframes as investors digest a significant development in the Ripple vs. SEC lawsuit. After Judge Analisa Torres released her summary judgment articulating a clear distinction between token sales on exchanges versus on launch pads, crypto executives now demonstrate a willingness to list XRP.
Also Read: XRP naysayers miss out on 70% gains after Ripple Labs and SEC share joint victory
Ripple token listing chatter
Ripple (XRP) price is on course north, recording a 70% increase in 24 hours as traders buy the news of XRP not being a security. Accordingly, the remittance token has recorded the largest cryptocurrency asset hourly volume, breaching the 2 billion mark.
Amid the hype, Gemini Exchange's Cameron Winklevoss has congratulated the court, specifically Judge Torres, for doing what he says the US Securities and Exchange Commission (SEC) and chair Gary Gensler ought to have done.
Because the @SECGov and @GaryGensler refused to write clear rules for crypto, a judge just did it for them.
— Cameron Winklevoss (@cameron) July 13, 2023
Further, the news has Gemini thinking about listing XRP, as indicated in a Twitter post after the court's decision broke. Citing the announcement:
Given today's ruling that the sale of XRP on exchanges is not a security, Gemini is exploring the listing of XRP for both spot and derivatives trading.
Ripple lawyer John E Deaton did not miss the opportunity to champion for XRP, sending a call to action to exchanges such as Kraken, Crypto.com, and Coinbase to list the remittance token. In his words, "…every exchange in the US should relist XRP in solidarity with today's decision."
One of many. Make no mistake: every exchange in the United States should relist XRP IN SOLIDARITY with today’s decision: @coinbase @krakenfx #Crypto.com, @Gemini etc etc https://t.co/q22NJOTsKO
— John E Deaton (@JohnEDeaton1) July 13, 2023
Interestingly Coinbase Exchange has heeded the call, committing to re-enable trading for Ripple tokens o the XRP network. The announcement also details that trading could begin on the same day, provided liquidity conditions are met.
Coinbase will re-enable trading for XRP (XRP) on the XRP network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset remain available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets ️ (@CoinbaseAssets) July 13, 2023
The remittance token has reportedly won a listing on iTrustCapital, a leading digital asset IRA software platform for cryptocurrency and physical precious metals transactions.
I was just informed that XRP is live @iTrustCapital ! BOOM! The exchange snowball begins!
— Digital Asset Investor (@digitalassetbuy) July 13, 2023
Ripple price races to $1.0
Meanwhile, Ripple price is auctioning for $0.809, levels last seen in May 2022. The Relative Strength Index (RSI) momentum indicator at 89 indicates that the XRP market is highly bullish. An increase in buying pressure could see Ripple price hit $1.0 soon.
One of the key drivers to actualize this impulse would be the ongoing bold moves by exchanges to list and relist XRP. With more players, local investors can easily invest and withdraw profits using their local fiat currency.
XRO/USDT 1-Day Chart
Nevertheless, there is the obvious threat of profit-taking that could interrupt the rally,
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Author
Lockridge Okoth
FXStreet
Lockridge is a believer in the transformative power of crypto and the blockchain industry.
