XRP is one of the most traded altcoins on Binance this December according to analyst JA Maartunn from CryptoQuant. This altcoin recorded a trading volume of over $116.6 million on Binance Futures, outperforming other altcoins.

According to Cryptoquant, XRP has been traded with higher volumes than other altcoins in the market throughout the month. This surge occurred at a time when XRP's price was rising to peak levels not seen in three years before a sharp decline.

"XRP is the most traded altcoin on the Binance Futures market, with a trading volume of 116.6 billion and this month is not over yet. It is important to monitor the most traded coins on Binance, as they will be your main focus when trading altcoins."

According to CoinGecko, the price of XRP has dropped to a daily low of $2.18, down over 1%. XRP has also fallen more than 25% since hitting a multi-year high on December 3. This price volatility is similar to other major markets, as most leading cryptocurrencies have also declined during the same period.

Despite these setbacks, Maartum claims that XRP remains resilient. He stated, "XRP seems to be recovering faster than most altcoins, despite the broader market challenges." According to CryptoQuant, the open interest of this token is $1.90 billion, with Binance contributing nearly 50%.

The growth of wallets and investor interest in XRP

In addition to price volatility, XRP has recorded an increase in the number of active wallets. According to chain analytics company Santiment, the number of non-empty wallets for XRP has surged.

This growth, which began in October, is believed to be due to a better understanding of XRP's legal status. Since the U.S. SEC ruled in July 2023 that XRP is not a security, this token has seen increased growth in the number of holders and trading frequency. In the same month, Ripple submitted Form C to present the arguments it wished to make in its cross-appeal.

Over the past two years, the number of cryptocurrency investors has increased. For example, XRP alone has added 5.75 million wallets, which is a 28% increase. This trend aligns with the growth of leading cryptocurrencies; Bitcoin increased by 27%, Ethereum by 47%, and Tether by 66%. The price of XRP has also risen sharply compared to last year, with an annual change of 253%, indicating greater interest and trust from more investors.

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