• XRP liquidity fell on DEXes despite the token’s resistance to the SEC onslaught.
• Both retail holders and whales have increased their balance.

Ripple’s [XRP] volume on Decentralized Exchanges (DEXes) experienced a drop to $33,300 after it rose significantly on 4 June. On the aforementioned date, the metric increased to $440,000. This represents its highest since the $2 million milestone in May.

Realistic or not, here’s XRP’s market cap in BTC terms

Nothing lasts forever

The increase implied that liquidity connected to XRP on platforms where the token was traded was dissipating. Nonetheless, XRP has enjoyed a long period of upticks, decoupling from Bitcoin’s [BTC] trend since its community expressed confidence in winning its case with the SEC.

While the ongoing lawsuit between Ripple and the SEC has created a level of uncertainty around the classification of XRP as a security, it was surprising that the token did not come up when the regulator sued Binance and Coinbase. And as a consequence, the token continued exchanging hands above $0.5.

As a result of the positive outlook, the token was gaining increased adoption. At press time, the
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Author: Victor Olanrewaju

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