XRP Trading Volume Surges to $1.4 Billion Amid Market Expansion
The trading volume of the popular cryptocurrency XRP has experienced a significant increase, reaching $1.4 billion, according to the latest report by CoinMarketCap. The spot market trading volume alone has surged by 30% to $794 million within the last day.
In addition to the spot market, the trading volume of XRP derivatives, particularly perpetual futures, has also seen a notable increase of 11.29% in the past 24 hours, amounting to $608.21 million. This indicates that a total of $1.4 billion worth of XRP has been traded during this period.
XRP Nears $30 Billion Market Cap Milestone
As XRP approaches the significant milestone of reaching a $30 billion market capitalization, its trading volumes are also on the rise. Currently, XRP’s market capitalization stands at $29.32 billion, just 2.26% away from reaching this significant mark.
Interestingly, XRP has previously surpassed this threshold but was unable to sustain its position. Market participants are closely monitoring whether renewed interest will enable XRP to finally surpass this important milestone.
Growing market interest is evidenced by the increase in transaction volume. The current market capitalization to trading volume ratio of 4.66%, which falls within the typical range of activity, indicates strong market participation. Once XRP’s market capitalization exceeds $30 billion, it can secure a position among the top 600 global companies.
Current Price and Market Sentiment
As of now, the price of XRP stands at $0.5327, experiencing a slight decrease of 0.12% in the past 24 hours, according to CoinMarketCap data. However, with a 3.85% increase over the last seven days, it also indicates a bullish sentiment. Previous reports have suggested that XRP may rise above the $0.53 level with the introduction of new US crypto laws.
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