Investor interest in XRP surges
This significant leap in XRP futures open interest comes as Ripple CEO Brad Garlinghouse recently applauded champions of crypto in Congress. In the face of the SEC's decision to appeal the ruling in favor of Ripple, Garlinghouse took to Twitter on July 23 to express his frustration with the regulatory body's overreach.that the SEC's approach to the crypto industry was too enforcement-focused, leaving consumers unprotected and often dealing with the fallout in bankruptcy court.
The closely-watched legal scuffle between Ripple and the SEC has far-reaching implications for the broader crypto industry. The case centered around whether XRP should be classified as a security, with a recent U.S. District Court ruling mainly siding with the defendants. At press time, XRP is holding steady at $0.74, seeing a modest 0.5% rise akin to a gentle uphill climb on the day. It has clocked in a robust 24-hour trading volume of $1.7 billion, with its market capitalization eclipsing $39 billion.
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