XRP has experienced a significant rise of 7% within 24 hours, reaching over 64 cents. This surge is attributed to an upcoming token unlock and growing optimism for a resolution to the SEC Ripple lawsuit. The SEC's decision to amend its complaint against Binance is being interpreted by traders as a favorable development for Ripple. In August, Ripple plans to release 1 billion XRP, valued at $641 million, which could enhance market liquidity. There's considerable demand for XRP from South Korea, with high trading volumes seen in trading pairs. This heightened trading activity on local exchanges has fueled a 20% rally in XRP.
Source: Coindesk
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