XRP has achieved an important milestone by placing fifth on Binance regarding trading volume during the last 24 hours. In terms of trading volume, XRP is the fifth-ranked cryptocurrency on Binance, after Aptos (APT), Litecoin (LTC), Dogecoin (DOGE), Binance Coin (BNB), and Cardano (ADA), among other notable cryptocurrencies.
Meanwhile, In terms of Binance’s 24-hour trading volume, XRP is trailing Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and other cryptocurrencies. Interestingly, users of Binance have traded a remarkable $72.8M worth of XRP during the past 24 hours.
Aside from the data on Binance, XRP also saw a sharp rise in its overall trading volume on several cryptocurrency exchanges, including KuCoin and Gate.io. XRP’s 24-hour trade volume increased by 38.39% to $1.21 billion across several cryptocurrency trading platforms, including KuCoin and Binance, according to data on CoinMarketCap, a cryptocurrency aggregator platform owned by Binance.
Growing Demand For XRP asThe Ripple Lawsuit Draws to a Close
The data points to a rise in cryptocurrency consumers’ interest in XRP. There has been an increase in interest in XRP as the Ripple v. SEC lawsuit nears its conclusion. Large cryptocurrency speculators have recently moved enormous quantities of XRP to and from exchanges.
According to an earlier report, these high-net-worth individuals traded 122M XRP worth $41.48 million. Silicon Valley blockchain company Ripple transferred 50 million XRP ($17.4 million) to an unidentified whale out of the entire amount of XRP that was traded. The significant increase in XRP’s 24-hour trading volume is not unexpected. Yesterday, as reported, Whales moved more than 479 million tokens while Ripple moved 100 million XRP.
Numerous cryptocurrency and legal counsel, including John Deaton, think Judge Analisa Torres will rule in favor of the blockchain corporation in the Ripple v. SEC dispute as it nears its conclusion.
With a market cap of $17.71 billion, XRP is still the sixth-largest cryptocurrency by market capitalization. At the time of writing, the price of XRP is roughly $0.3498.