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.

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."

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.

The remittance token has reportedly won a listing on iTrustCapital, a leading digital asset IRA software platform for cryptocurrency and physical precious metals transactions.

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,


Like this article? Help us with some feedback by answering this survey:



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch

Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch

Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.

More Bitcoin News
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers

Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers

Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins. 

More Bitcoin News
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction

Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction

Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.

More Solana News
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs

SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs

The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.

More Cryptocurrencies News
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy

Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP