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Ripple, a cross-border payment services company, has embarked on a legal battle forced by the United States Securities and Exchange Commission (SECOND) During a very long time. This has led to an unclear view of the company and its native crypto in the country. However, a review report has surfaced suggesting that Ripple is making progress in the Australian crypto market.

Ripple XRP emerges as the top choice

According to a report by Financial Review, Ripple dominates trading volumes on some of Australia’s largest digital exchanges. The current surge is a result of international payments becoming practical as the primary use case in the country.

According to the data, Ripple’s XRP accounted for 82% of all cash volume on the independent reserved exchange. However, Melbourne-based BTC Markets showed that XRP accounted for 62% of cash trading volume. He mentioned that Ripple volumes are less than 1% compared to larger exchanges like Coinbase and Binance.

He added that Ripple transactions were calculated for around $10.2 million on the independent reserve alone over a 24-hour period. This is more than all other digital assets merged during the same period.

XRP on a wave

On the market side, XRP managed to rise despite a lawsuit from the US SEC. XRP Price jumped 15% in the past 30 days. It is trading at an average price of $0.39, at press time. However, its 24-hour trading volume jumped 3% to $1.06 billion.

The long-running XRP lawsuit has become a hope for many businesses and crypto enthusiasts to achieve clear regulation in the digital asset market. Reports suggest summary judgment in the crucial lawsuit is expected to land in the first half of 2023.

Ashish believes in decentralization and has a keen interest in the evolution of Blockchain technology, the cryptocurrency ecosystem, and NFTs. He aims to raise awareness of the growing crypto industry through his writing and analysis. When he’s not writing, he’s playing video games, watching thrillers, or playing sports outdoors. Contact me at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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