Despite the curse of the lawsuit associated with its performance, Ripple’s XRP is making gains on several fronts in the second quarter of this year.
XRP trading volume
According to the Q2 report released on July 29th, XRP’s-Ripple’s native token trading volume rose a whopping 98% from April to June. Token trading volume, which ended the first quarter of this year at $ 2.26 billion, has now almost doubled to $ 4.49 billion. The report also showed that ODL-related sales of XRP rose from 150.34 million[first quarter] to 157.92M[this quarter]. It’s also worth noting that XRP had 4 days of highest trading volume ever in the second quarter.
XRP price promotion
During the second quarter, XRP also hit a big high in terms of price action. XRP started the second quarter with huge gains as it shot to $ 1.96 in the first half of April and grew 245%. But later it didn’t last long, it went down quite steeply and eventually succumbed to the wider market correction. But despite a significant decline, it was still able to maintain 15% growth from quarter to quarter.
Because of this upside-down price action, the volatility of XRP[11.5%] surpassed those of ETH and BTC.
XRP is currently trading at $ 0.72 and is up about 30 percent compared to the first quarter’s final price level.
After all, along with general market behavior, the SEC lawsuit has a huge impact on XRP’s price action. The SEC filed a lawsuit against Ripple and its executives in late December for illegally selling $ 1.38 billion in XRPs as securities. From then on, both parties fought hard to obtain important legal bases. While Ripple currently has the upper hand in court with the former SEC official’s dismissal imminent, the lawsuit still has a lot in it.