Trading at a 29% decline in the last month, XRP has lost most of the gains it recorded following Judge Torres' decision on 13 July.
The token’s value had risen to a high of $0.81 on 13 July after U.S. District Judge Analisa Torres ruled that Ripple did not violate federal securities law by selling its XRP token on public exchanges.
The decision led to an over 70% uptick in XRP’s value within 24 hours of the verdict and caused it to briefly displaceHowever, XRP’s price closed at $0.70 in July and declined throughout August. Exchanging hands at $0.51 at press time, XRP approached its price level prior to the court’s ruling.Despite the fall in value in the past few weeks, XRP opened the new trading month with a 7-month high in its transaction volume on 1 September.
XRP’s transaction volume metric tracks the aggregate number of tokens across all transactions completed daily. On 1 September, this token count totaled 4.8 billion XRP, the highest since 1 February.Likewise, on the same day, XRP circulation among traders skyrocketed to its highest daily count since 31 May. Data from Santiment showed that 2.03 billion unique XRP tokens were transacted on 1 September.This uptick signaled a few things.
Conversely, the surge could also indicate that there is a lot of speculation in the XRP market, resulting in significant price volatility and swings. Likewise, it could be that XRP whales have begun accumulation in anticipation of a price rally once the summer doldrums blow over. Data from Santiment revealed an uptick in the daily count of whale transactions above $100,000 and $1 million in the last week.Also, the count of XRP whales that hold between 10,000 and 1,000,000 XRP tokens has climbed by 3% in the last 30 days, suggesting a growth in whale accumulation, even as the token’s price cratered.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
‘Persistent’ bears force 160 firefighters to pull out of B.C. Interior campWhile neither firefighters nor bears have been harmed, conservation authorities said it would be safest for the firefighters to leave - they are currently being hosted at T’it’q’et First Nation and Lillooet municipal facilities
Lire la suite »
Bears force 160 people to pull out of B.C. wildfire crew campAbout 160 firefighters battling a blaze in B.C.'s Interior have pulled out of their camp after they were subjected to what the BC Wildfire Service calls 'persistent bear activity.'
Lire la suite »
Jon Corzine’s Critics Want Him Banned From Futures TradingJon S. Corzine’s critics are making a renewed effort to halt the comeback attempt of the former head of MF Global Holdings more than a decade after the derivatives brokerage imploded and about $1 billion in customer money went missing.
Lire la suite »
B.C. wildland firefighters chased from their camp by bearsAround 160 firefighters were forced from their camp.
Lire la suite »
’Persistent’ bears force 160 firefighters to pull out of B.C. bush campAbout 160 firefighters battling a blaze in B.C. have had to pull out of their camp after they were subjected to \u0022persistent bear activity.\u0022
Lire la suite »
Gold and silver: trading, leasing, and banking explainedKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Lire la suite »