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HomeCrypto NewsMarketXRP Now Most Traded Token Among Top 100 BSC Whales

XRP Now Most Traded Token Among Top 100 BSC Whales

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XRP recently flipped Aave (AAVE) to secure the top position amid the latest market-wide rally.

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XRP is currently the most traded token among the top 100 Binance Smart Chain whales after overtaking Aave (AAVE) in the early hours of Tuesday. The achievement came amidst significant developments surrounding the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC).

WhaleStats, a top whale-tracking platform, called attention to the impressive feat through a tweet as XRP surged back above the $0.35 territory. “JUST IN: XRP flipped AAVE for MOST TRADED token among top 100 BSC whales,” the tweet reads.

 

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In addition to the previously-mentioned achievement, XRP was also listed among the top 10 most purchased tokens by the top 2,000 BSC whales in the past 24 hours along with other tokens such as CAKE and ADA. Furthermore, WhaleStats revealed that up to 2% of the total cumulative holdings of the top 1,000 BSC whales are in XRP, as they collectively hold $25.1M worth of the asset.

Moreover, The Crypto Basic previously highlighted a surge in XRP trade volume on Binance, as the asset became the fifth most traded token on the exchange, only below Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Gala (GALA). At the time, XRP’s trade volume within the last 24 hours was $72.8M.

The volume has increased to $75.7M as of press time, and while the asset has overtaken SOL, it remains in the fifth position due to ApeCoin’s recent rise to third.

These metrics suggest a renewal of interest among large investors, especially at a time when the markets are witnessing a sustained relief rally. The latest updates on the legal tussle between Ripple and the SEC have also contributed to the rejuvenation of investors’ interest, evidenced by the increase in whale activity.

XRP Price Analysis

Meanwhile, the asset has leveraged the latest market-wide rally to recapture the much-coveted price point at $0.35. XRP is now comfortably trading above the level, as it changes hands at $0.3619 at the time of reporting, having towered over the first and second crucial resistance levels at $0.3556 and $0.3605 respectively.

With a gain of 4.12% in the past 24 hours, XRP is the biggest gainer amongst the top 70 assets within the time frame, bucking the trend at a time when the markets are facing rejection. Notwithstanding, if the bears hit and the asset falls below $0.3493, investors could see a dip to its major support levels.

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Author

Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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