According to data released by the analysis company Kaiko yesterday, XRP trading volume surpassed Bitcoin for the first time in many years. Analysts pointed out that Ripple's victory in the lawsuit against the SEC has injected confidence into investors.

In mid-July, the public blockchain project Ripple won a short-term victory in its years-long legal tug-of-war with the U.S. Securities and Exchange Commission (SEC). The court ruled that the trading of XRP on exchanges did not fall into the category of illegal securities.

Thanks to this, XRP was quickly relisted on many exchanges that had previously delisted it, and driven by investor enthusiasm, XRP even set an astonishing record this week in terms of daily trading volume surpassing Bitcoin.

$XRP Trading Volume Surpasses Bitcoin for the First Time in Years

According to statistics from 25 centralized exchanges compiled by the analysis company Kaiko, XRP's trading volume surged after it won the lawsuit against the SEC, and even surpassed Bitcoin's 20% with a trading share of 21% on July 17.

Analyst: Ripple's temporary victory has restored confidence to investors

Analysts believe that more traditional investors and institutional investors have shown a strong interest in using cryptocurrencies to diversify their investment portfolios, and this tendency has also made XRP, which just won the case, favored by funds. Secondly, XRP has reversed the market's impression of its sanctions through this victory and re-injected confidence in investors in the field of compliance.

Furthermore, XRP has good use cases in various countries and industries. Its partnerships with major financial institutions and payment service providers make XRP competitive in the field of practicality and have a certain position in the field of cross-border transactions.

However, it should be noted that according to previous reports from the Dynamic Zone, in the view of legal experts, Ripple's victory over the SEC is only a temporary victory, and the judgment still has advantages for the SEC. Based on this, the SEC is likely to appeal the case and there is a possibility of reversing the current judgment.