As a researcher with extensive experience in the cryptocurrency market, I find the recent surge in trading volume for XRP to be an intriguing development. According to the latest data from CoinGlass, the turnover of XRP derivatives has increased by 60% in the last 24 hours, with a significant portion coming from perpetual XRP futures. This growth is particularly noteworthy given that the total market capitalization of XRP is $29.5 billion, making the trading volume now approximately 12.71% of the token’s total value.
As an analyst, I’ve noticed a significant surge in derivatives trading volume for XRP over the past 24 hours, with a remarkable 60% increase reported by CoinGlass. The primary driver of this growth was the escalating turnover in perpetual XRP futures contracts, which hit a staggering $2 billion mark. Simultaneously, on the spot market, there was an uptick in trading volume amounting to a 18.40% increase, reaching a total of $1.75 billion.
As a researcher studying the cryptocurrency market, I discovered that the daily turnover of XRP on centralized platforms reached an astounding $3.75 billion. Considering its market capitalization of $29.5 billion, this equates to approximately 12.71% of the total value being traded in a day. This significant figure highlights the high level of trading activity surrounding XRP.
The value of XRP relative to Bitcoin increased by over 3% today, with XRP now costing approximately 0.00000785 Bitcoins. This equates to a roughly 4.26% increase in XRP’s value when considering Bitcoin’s 1.26% decrease in dollar terms.
As a crypto investor, I’ve noticed a significant discrepancy between the bid and ask prices lately. This gap can primarily be attributed to the recent market downturn that has led to the liquidation of approximately $119.85 million worth of positions within the past few hours.
The surge in XRP‘s popularity is largely driven by Coinbase’s announcement to list the cryptocurrency on their platform, marking its return to accessibility for New York residents following a ban during Ripple‘s legal dispute with the SEC in 2021. This development has noticeably amplified XRP’s market exposure and trading volume.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- USD COP PREDICTION
- BICO PREDICTION. BICO cryptocurrency
- USD ZAR PREDICTION
- USD PHP PREDICTION
- VANRY PREDICTION. VANRY cryptocurrency
- USD CLP PREDICTION
- PLI PREDICTION. PLI cryptocurrency
2024-05-23 19:21