$XRP Dominates Altcoin Market in December on Binance.
XRP is making headlines as it became the most traded altcoin on Binance in December.According to CryptoQuant analyst JA Maartunn, XRP reached over $116.6 million in trading volume on Binance Futures, surpassing other altcoins.
Outstanding Trading Volume
According to CryptoQuant, XRP maintained its leading position in altcoin trading throughout December, especially as its price climbed to a three-year high before falling sharply.
Maartunn shared :
“$XRP is the most traded altcoin on Binance Futures, with a volume of 116.6 billion, and the month is not over yet. Keeping track of the most traded coins on Binance is important when investing in altcoins.”
Fluctuation and Recovery
According to CoinGecko, the price of $XRP dropped to an intraday low of $2.18, down more than 1%.
Since December 3, when its price reached a multi-year high, XRP has fallen more than 25%, in line with the general trend of leading cryptocurrencies.
However, Maartunn notes that XRP is recovering faster than other altcoins:
XRP open interest reaches $1.90 billion, of which Binance accounts for nearly 50%.
The number of active XRP wallets has increased significantly, thanks to clarification on the token's legal status.
Impact of Legal Decisions
In July 2023, the US SEC declared XRP not a security, fueling growth in the number of holders and transactions.
Ripple has since filed a Form C to defend its arguments in the cross-appeal.
Impressive Figures
In the past two years :
The number of wallets containing XRP increased by 5.75 million, equivalent to a 28% increase.
Other cryptocurrencies such as Bitcoin increased by 27%, Ethereum increased by 47%, and Tether increased by 66%. XRP alone increased by 253% in price over the past year, demonstrating increased investor confidence and interest.