Ripple (XRP), one of the popular altcoins, has been fighting the SEC for over two years.
As the lawsuit continues, XRP continues to grow.
In this context, XRP has recently become a new focus of interest for South Korean investors.
According to the news of Coindesk, XRP trading volume continues to increase in South Korean exchanges.
XRP trading volumes on UpBit, Bithumb and Korbit, South Korea’s three largest exchanges by trading volume, rose to billions of dollars after XRP rose 26% last week.
The data showed that over the past 24 hours, XRP trading accounted for 37% of all volume on Bithumb, 18% on UpBit, and an astonishing 50% of all volume on Korbit.
In the face of these figures, UpBit led the global XRP trading volumes with over $790 million in XRP trading volume in the last 24 hours.
Evaluating this interest in XRP, analysts said that this interest came amid the CFTC’s filing of Bitcoin and Ethereum as commodities in its lawsuit against Binance, and claims that XRP could be classified as a commodity by the CFTC.
On the other hand, the SEC claims that XRP is a security.
However, analysts stated that the classification of XRP as a commodity could mean that Ripple won the case and could bring bullishness for XRP.
You can review the news below for the possible impact of Ripple’s winning the case against the SEC on altcoins.
*Not investment advice.
