XRP Trading Volume Surges 298% as Price Skyrockets🤯💥📈
In a notable development, the trading volume of XRP, a prominent cryptocurrency, has surged by an impressive 298% in the past 24 hours, according to data from CoinGlass. This surge in trading activity has propelled the turnover of XRP-related derivatives in the crypto market to a remarkable $8.75 billion, accompanied by a noteworthy 25.71% increase in open interest, now reaching $1 billion.
The surge in trading volume extends beyond futures and derivatives; in the spot market segment, XRP has recorded a trading volume of $7.66 billion. This achievement elevates XRP to the sixth position among the top 100 crypto assets in terms of spot trading volume. Consequently, the combined turnover of XRP in both spot and futures markets now totals a substantial $16.41 billion.
This surge in trading activity signifies heightened interest and participation of market participants in XRP. With its current market capitalization at $38.77 billion, the volume-to-capitalization ratio stands at a significant 42.32%, highlighting the remarkable engagement and enthusiasm surrounding the asset.
Simultaneously, the price of XRP has experienced a substantial uptick, surging by nearly 16% since the beginning of the week, despite it only being Tuesday. Presently, XRP is trading at $0.7, showcasing the bullish sentiment surrounding the cryptocurrency.
The unprecedented surge in trading volume and significant price increase underscore the growing prominence and investor confidence in XRP. As market dynamics continue to evolve, attention remains focused on the remarkable performance of this digital asset.
$XRP
