In a recent development, it was revealed that XRP now occupied the 5th position on Binance in term of in terms of trading volume in the past 24 hours.
XRP Sits At 5th Position Among Coins On Binance With The Highest Trading Volume
It was stated on the official website of the largest cryptolifedigital, XRP, which ranks as the fifth cryptocurrency with the highest trading volume, sits ahead of other top crypto assets, including Aptos (APT), Litecoin (LTC), Dogecoin (DOGE), Binance Coin (BNB), Cardano (ADA).
However, XRP is ranked behind Bitcoin (BTC), Ethereum (ETH), Solana (SOL), etc., in terms of Binance’s 24-hours trading volume. It is noteworthy that over the past 24 hours, Binance users have traded a whopping $72.8M worth of XRP.
According to the analysis, the XRP token has recorded a huge increase in its overall volume across various crypto trading platforms, including KuCoin and Gate.io. Per data on Binance-acquired cryptocurrency aggregator platform CoinMarketCap, XRP 24-hour trading volume spiked by 38.39% to $1.21 billion across various crypto trading platforms, including KuCoin and Binance.
Furthermore, the data revealed is an indicator of the growing interest in XRP among crypto users and also, as the lawsuit between Ripple and the SEC edges closer to its end, there has been a growing curiosity about XRP. In recent times, deep-pocketed crypto investors have shuffled huge amounts of XRP to and from exchanges.
Recently, the XRP has been witnessing a series of reshuffling of the token across the exchanges. for instance, Ripple moved a total of 50 million XRP worth $17.4 million to an unknown whale and this is seen as the most contributor to the current trading volume.
Crypto Experts Believe Victory Is For Ripple
As the case between Ripple and SEC draws to an end, many crypto experts like John Deaton has been got believe that Judge Analisa Torres will grant a victory in favour of the blockchain company.
Meanwhile, XRP is still ranked as the sixth cryptocurrency by market capitalization, with a market cap of $17.67 billion. At the time of writing, XRP is changing hands around $0.3487.