XRP Price Down 46% Since July 2023 But Liquidity Up 50%, What This Means For The Token


19 Sep 2023 2:00 AM

XRP liquidity is up 50% in two months from July following the court ruling. This is despite prices dumping 46% and trading volumes shrinking...

  • Latest data from Kaiko shows that XRP prices have decreased by 46% from July 2023 highs.
  • However, XRP's liquidity has improved by 50% in the past two months, reaching $12 million in early September.
  • The increase in liquidity follows a court ruling that dismissed the SEC's claims that XRP was an unregistered security.
  • XRP's market depth has steadily risen, but trading volumes and prices have contracted.
  • It remains to be seen if buyers are stronger than sellers at any price point, which could impact the short to medium-term trajectory of XRP prices.
  • XRP is currently down 70% from April 2021 highs, and bears are in control despite a recent upswing in sentiment.
  • The SEC intends to appeal the ruling, but analysts believe that a settlement between Ripple and the SEC is likely.

The article provides a mixed sentiment. While XRP's liquidity has improved, the decrease in prices and the dominance of bears suggest a negative sentiment. However, the possibility of a settlement between Ripple and the SEC is seen as a positive development.

Go to publisher site

You May Ask

How much have XRP prices decreased from their July 2023 highs?What caused the increase in XRP's liquidity?What is market depth, and how has it changed for XRP?Who is currently in control of XRP's market, bears or buyers?What is the likelihood of a settlement between Ripple and the SEC?

Suggested Reads