XRP accounted for more than 20% of cryptocurrency trading volumes over the weekend

XRP accounted for more than 20% of cryptocurrency trading volumes over the weekend

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Author: Liam Miller
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XRP accounted for more than 20% of cryptocurrency trading volumes over the weekend
Despite the current growth, trading volumes are not yet commensurate with those seen in 2021, when the crypto market reached all-time highs

Since the July 13 U.S. federal court ruling that Ripple's token is not a security, 21% of all crypto trading volume has been XRP, Kaiko analysts calculated.

Neither the lawsuit itself nor the delisting from the largest crypto exchanges in the United States did not have a strong impact on the price of XRP and on trading volumes, the analysts wrote. Although the token was excluded from trading by U.S. crypto exchanges in 2021, traders on platforms outside the United States have not lost interest in it. Since the beginning of the trial with the SEC, the volume of transactions with XRP on two Korean crypto exchanges - Upbit and Bithumb - cumulatively amounted to $476 billion.

Despite the current growth, trading volumes are not yet comparable to the indicators of 2021, when the crypto market reached historic highs, analysts remind. According to their calculations, the indicator has now reached the mark of the middle of last year.

Coinbase announced on July 13 that it would resume XRP trading. Cryptocurrencies Crypto.com and Kraken Pro, in turn, said on July 14 that XRP would be placed back on their trading platforms.

 

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