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