[ccpw id="39382"]

HomeCrypto NewsMarketXRP 24-Hour Volume Surges, As 1.8 Billion XRP Traded in a Day

XRP 24-Hour Volume Surges, As 1.8 Billion XRP Traded in a Day


Written By:

Latest News

Amid the multi-week decline in XRP price, the asset’s trade volume has continued to witness noticeable surges across the top crypto exchanges. 

- Advertisement -

Despite the prevalent market downtrend that has dampened XRP’s performance over the past few weeks, the asset has continued to attract investor interest. Notably, recent data confirms that XRP’s trade volume has surged across top exchanges.

XRP Trade Volume on Top Exchanges 

According to crypto-tracking platform CoinMarketCap, XRP’s 24-hour trading volume stood at approximately $965 million at press time. This indicates that 1,832,628,166 (1.8 billion) XRP tokens have been traded in the past 24 hours. 

Data from Messari further revealed that Binance, Huobi, Upbit, Digifinex, Bithumb, and Coinbase Exchange accounted for most of the XRP trade volume in the past 24 hours. 

- Advertisement -

According to the data analytic platform, $148 million worth of XRP has been traded on Binance in the past 24 hours with the XRP/USDT pair. Meanwhile, $13.12 million and $6.89 million have been traded on the XRP/BUSD and XRP/BTC market pairs, respectively. 

Meanwhile, the 24-hour trade volume for the XRP/USDT pair on Huobi Global stood at $54.65 million at the time of writing. On Upbit, XRP worth $36.62 million has been traded on the XRP/KRW pair in the past day. 

While Digifinex recorded a trading volume of $34.17 million for the XRP/USDT pair, a $30.69 million trade volume was totaled for the XRP/KRW on the Bithumb platform.

Notably, the largest US-based exchange, Coinbase, boasts an XRP trade volume of $29.26 billion for its XRP/USD market pair. 

- Advertisement -

Altcoin Volume Below Yearly High Despite XRP Win

Undoubtedly, XRP has remained one of the most prominent assets in the cryptocurrency market. The recent legal victory attained by the asset triggered demand not just for it but also for other altcoins.

However, data from market intelligence provider Kaiko suggests that these altcoins are still struggling to hit high trade volumes. Kaiko recently shared a chart depicting the combined monthly trade volume of altcoins, excluding XRP, BTC, and ETH. 

Excluding the trade volumes of BTC, ETH, and XRP, Kaiko reported that the cumulative trade volume of all other altcoins has struggled to reach the yearly high attained earlier this year. 

In particular, market data showed that these altcoins’ trade volume rose above $60 billion in April 2023. Despite the favorable ruling on XRP in July, the volume has remained below $20 billion as of August 23. 

Recall that the bullish ruling on XRP came on July 13. At the time, XRP recorded a massive price surge that resulted in increased trade volumes on different exchanges. 

The Crypto Basic reported that XRP’s overall trade volume crossed the $10B mark on July 13.

Remarkably, South Korean exchanges accounted for a large percentage of this trade volume. As published, over $2.5B XRP tokens were traded across top South Korean exchanges within 24 hours.

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom is a crypto journalist and content writer who has been talking about crypto and blockchain technology since 2018. With a knack for translating complex concepts into engaging narratives, he takes pleasure in educating and informing industry players about developments in space. Armed with industry expertise and a commitment to delivering accurate and thought-provoking content, he has produced thousands of articles including news and educational content for various projects and blogs, showcasing his versatility and dedication to his craft. He holds a Bachelor's degree in Petroleum Engineering.

More from Author