The number of institutional buyers now surge in XRP, signaling a demand for the crypto and a probable upcoming bull run.
In the midst of the ongoing legal dispute between Ripple and the SEC, institutional purchases of XRP have surged by an impressive 266%.
Last week, investments jumped to $1.1 million, up from just $0.3 million the previous week.
This positive trend is particularly noteworthy following recent discussions about XRP’s potential rally after six years of stagnation.
Currently, this upward movement reflects increasing confidence in XRP’s future, especially after favorable court rulings for Ripple.
As investor optimism grows, XRP’s price has risen by more than 1% to around $0.56, with trading volume increasing by slightly above 45%, signaling heightened market activity.
In another update regarding SEC Chairman Gary Gensler’s appeal strategy, questions about “What’s the SEC Planning?” have emerged.
Ripple’s ongoing legal fight with the SEC has generated both concern and optimism.
As Ripple prepares for appeals in the Second Circuit Court, the SEC’s decision to contest a previous ruling—reducing Ripple’s fine from nearly $2 billion to $125 million—has faced criticism.
Ripple CEO Brad Garlinghouse has stated that the SEC’s actions indicate regulatory overreach.
Legal experts have pointed out inconsistencies in the SEC’s approach to XRP compared to Ethereum, raising debates about the fairness of current regulatory standards.
Despite market fluctuations, XRP has remained relatively stable, trading between $0.50 and $0.64.
Historically, XRP has demonstrated the ability to experience massive price increases, including a 41,000% rise following Bitcoin’s 2016 halving and a 1,000% gain during the ongoing SEC case.
According to CoinMarketCap, XRP is currently trading at $0.5486, reflecting a 3.52% increase over the past day and a 3.15% increase over the past week.
With about 66 days remaining until a potential market shift, some analysts predict a significant bull run for XRP.
However, Ripple’s ongoing legal challenges and regulatory scrutiny may still influence its long-term prospects.
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Also Read: The SEC Is Now Under Massive Scrutiny Following XRP Appeal
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