📢 XRP Dominates Binance Altcoin Market in December

According to CryptoQuant analyst JA Maartunn, XRP is one of the altcoins with the highest trading volume on Binance this December.

The altcoin had a trading volume exceeding $116.6 million on the Binance derivatives trading platform, outperforming other altcoins.

XRP's trading volume for the entire month was higher than that of other altcoins in the market. The price of XRP rose to a three-year high before experiencing a significant drop.

As of now, XRP's price has fallen to $2.18, down more than 25% since reaching a multi-year high on December 3.

Despite these setbacks, XRP remains resilient.

Maartunn noted that XRP's recovery seems to be faster than most altcoins.

According to CryptoQuant, XRP's open contracts amount to $1.9 billion, with Binance contributing nearly 50%.

The number of active wallets for XRP has also increased.

Data from on-chain analytics firm Santiment shows a sharp rise in the number of non-empty wallets for XRP.

Since the U.S. SEC ruled in July 2023 that XRP is not a security, the number of holders and trading frequency for this token has been continuously growing.

Over the past two years, the number of cryptocurrency investors has increased.

For instance, XRP alone has added 5.75 million wallets, a growth of 28%.

This trend aligns with the growth of top cryptocurrencies; Bitcoin is up 27%, Ethereum up 47%, and Tether up 66%.

XRP's price has also significantly increased compared to the previous year, with an annual growth rate of 253%.