"It's been a new month and it's been fun there, when is XRP going to go up again?"
During August 2023, investors in the United States (US) reportedly began to show interest in buying large amounts of Ripple (XRP) when data revealed that purchases of the cryptocurrency were high on Coinbase.
Through observation, the Binance crypto exchange managed to witness an increase in the sales volume ratio while the buying pressure on Coinbase was recently found to have experienced a significant jump.
Not only that, the average trading size of XRP buyers on the US-based crypto exchange is also pushing and pulling, it happened after Judge Analisa Torres ruled that the digital asset is not a security in Summary Judgment in July 2023.
There is no denying that the XRP price lost some of its gains when the SEC deemed that programmatic token sales to retail buyers were not securities.
But in terms of the enterprise software business, XRP has re-engaged with its customers in the US and it has been one of its big developments since the SEC filed a lawsuit in December 2020.
Looking at its latest progress, XRP has filed with the US District Court for the Southern District of New York in opposition to the SEC's efforts to conduct an interlocutory appeal.
Regardless of the outcome of the appeal request, both parties are set to participate in trial proceedings in the second quarter of 2024.
As of this writing, XRP price is up 0.04% at $0.50 in the last 24 hours with a market cap of $26 billion but still posted a 2.97% decline over the past week.
