XRP’s trading volume has witnessed a remarkable surge of 170%, reaching an impressive $1.035 billion. This surge is particularly notable considering the current market downturn affecting the entire cryptocurrency industry. CoinMarketCap data reveals that in the past 24 hours alone, XRP’s trading volume has experienced a significant climb, defying the bearish sentiment in the market.
The cryptocurrency market experienced a major slump on Monday, with Bitcoin falling to approximately $60,000. Altcoins, on the other hand, witnessed even more substantial declines. This unexpected market downturn resulted in the liquidation of leveraged derivatives trading positions across all digital assets, amounting to over $281 million. Key tokens suffered losses of up to 10%, and over $259 million worth of crypto longs were sold within the last 24 hours.
Despite the prevailing pessimistic market sentiment, XRP has displayed resilience and attracted traders in large numbers, leading to a substantial increase in its trading volumes. This surge in activity indicates that investors are either capitalizing on the current volatility or positioning themselves for future price fluctuations in XRP. According to CoinMarketCap, XRP’s trading volume has surged by 170% in the previous 24 hours, reaching an impressive $1.035 billion.
As of the time of writing, XRP is trading at approximately $0.4774, reflecting a decline of 1.52% over the past day. Additionally, the price decline of 4.79% over the last seven days suggests a bearish trend. The higher trading volumes during this price decline highlight the complex investor sentiment surrounding XRP.
In addition to the surge in trading volume, the XRP Ledger’s AMM pool has witnessed significant activity. This pool, which has locked in nearly 10 million XRP, has attracted attention due to its substantial growth.
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