Ripple’s associated coin, XRP, has recently experienced a dramatic surge on Coinbase, surpassing Bitcoin (BTC) to become the most-traded digital asset on the Nasdaq-listed exchange. This milestone highlights a broader shift in the cryptocurrency landscape, driven by political, speculative, and technological factors, as reported by CoinDesk.
XRP now commands 25% of Coinbase’s 24-hour trading volume, totaling an impressive $6.86 billion. Bitcoin, traditionally the market leader, trails with 20%, while Ethereum (ETH) follows in third place. This rapid rise reflects growing investor interest in XRP, particularly from the U.S., where the recovery in domestic demand has boosted trading volumes. The Coinbase premium indicator, which tracks U.S. investor activity, saw significant movement in XRP’s favor last week, further underscoring this shift.
Meanwhile, Bitcoin maintains its dominance on Binance, the world’s largest exchange by volume, where XRP is the second-most traded asset. XRP’s price surged to $3.33, its highest point since 2017, marking a more than sixfold increase since November. The token’s valuation has jumped by 33% in just one week, supported by record futures trading and a surge in large holders. Onchain data reveals that 108,540 unique addresses now hold at least $100,000 worth of XRP, signaling growing confidence among high-net-worth investors.
XRP’s rapid rise began after Donald Trump’s election victory in November, with the token climbing over 600% in the post-election rally. Ripple CEO Brad Garlinghouse’s meeting with Trump added fuel to the fire, raising hopes for better regulatory support for XRP. Rumors of a potential spot XRP exchange-traded fund (ETF) approval have only intensified investor enthusiasm, suggesting that institutional investment could soon flow into the digital asset.
Also Read: XRP Set to Skyrocket? Analysts Predict Ripple’s Price Could Hit $15 with ETF Buzz and RLUSD Surge
As XRP continues its meteoric rise, the asset’s growing role in the crypto world signals a potential shift in how digital finance will evolve, particularly with Ripple’s increasing adoption and potential regulatory clarity on the horizon. Whether XRP can maintain this momentum remains to be seen, but its recent success underscores the dynamic and fast-changing nature of the cryptocurrency market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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