Mon, August 05, 2024 at 22:03

• 

  Joy

  • Hey Annie!

  • Have you heard the latest about XRP?

  • There's been a big rebound in demand on digital asset exchanges!📈

  • 
• Annie

  • Oh really?

  • That's interesting!

  • What's causing the rebound?🤔

  
• 

  Joy

  • Well, it all started after that long lawsuit with the SEC.

  • The court ruled that XRP sold on exchanges doesn't count as a security.

  • Since then, demand has been bouncing back!😃

  • 
• Annie

  • Ah, I see.

  • So the lawsuit had a big impact on XRP's demand?

  • How much has it grown?📊

  
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• 

  Joy

  • Yeah, totally!

  • Since last year's ruling, the share of US platforms in global XRP volume jumped from less than 2% to 14%!

  • That's a huge increase!🚀

• Annie

  • Wow, that's impressive!

  • What caused such a big jump?🤯

  
• 

  Joy

  • During the lawsuit, top exchanges couldn't allow XRP trading, so there was a lot of pent-up interest.

  • Once the ruling came out, exchanges like Coinbase and Gemini relisted XRP, and demand just exploded!💥

• Annie

  • That makes sense.

  • So, how has XRP's price been doing lately?📉

  
• 

  Joy

  • Well, XRP saw some gains in July, outpacing Bitcoin by 35% to 9%, just on speculation of an SEC settlement.

  • But recently, prices have dropped.

  • XRP is down 18% in the last week, currently at $0.490.😕

• Annie

  • Oh no, that's quite a drop.

  • What happened?😟

  
• 

  Joy

  • The SEC had a closed-door meeting scheduled for August 1st, which got people excited.

  • But when the meeting was canceled, prices fell.

  • Plus, the whole market's been down.

  • BTC is also down 19%, now at $54,688.📉

• Annie

  • I see.

  • So, is this news good or bad for the market overall?🤔

  
• 

  Joy

  • Honestly, it's a bit of a mixed bag.

  • The rebound in demand is good, but the ongoing legal issues and recent price drops are definitely a negative.

  • It adds a lot of volatility to the market, which isn't great for stability.😕

• Annie

  • Got it.

  • Thanks for explaining, Joy!

  • This helps a lot with understanding the current market situation.😊

  
• 

  Joy

  • No problem, Annie!

  • Always happy to help.

  • Just keep an eye on the news and be cautious with your investments!👍

  • To sum up, this article is considered a 😱Bearish for investors!!