The post Ripple News: XRP Market Depth Hits $12 Million Despite Regulatory Challenges appeared first on Coinpedia Fintech News

Ripple’s native cryptocurrency XRP is demonstrating resilience in liquidity, despite facing a turbulent market environment and regulatory uncertainty. According to the latest data from Kaiko, the token’s market depth witnessed an impressive 50% surge, reaching an average of $12 million in early September 2023.

This development comes after a significant legal victory for Ripple in its case against the U.S. Securities and Exchange Commission (SEC). XRP experienced an immediate bump in both trade volume and price following the ruling, spiking to a yearly high of $0.9380 and a 24-hour trade volume of $10.3 billion on July 13.

Global Exchanges Reflect XRP’s Strength

Binance and Bitstamp, among the world’s leading cryptocurrency exchanges, have recorded relatively higher market depths for XRP. Per CoinMarketCap data, Binance and Bitstamp have $2.5 million and $1 million in +2% depth, respectively. Meanwhile, the Korean crypto Exchange Upbit holds the most public XRP liquidity