Ripple’s XRP Trading Volume Surges in Q4 2023
A recent report released by Ripple revealed that XRP experienced a substantial increase in daily trading volume, reaching approximately $600 million in the fourth quarter of 2023. This surge represented a growth of 75-100% compared to the previous quarter, indicating a rejuvenation in investor interest and market activity for the altcoin.
Ripple’s XRP Holdings and Other Crypto Volume
The report also provided insights into Ripple’s XRP holdings. As of September 30, 2023, Ripple held more than 5.25 billion XRP in its wallets and another 41.3 billion XRP secured in on-ledger escrow. By December 2023, the wallet holdings reduced to about 5.08 billion XRP, and the on-ledger escrow decreased to approximately 40.7 billion XRP.
The report also highlighted significant increases in trading volumes for other major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). BTC volumes rose by 88% quarter-on-quarter, while ETH recorded a 140% increase during the same period.
Analysts Optimistic about XRP’s Future Potential
Despite XRP currently trading around $0.52, analysts remain optimistic about its future potential. They point out historical patterns suggesting an imminent parabolic move for XRP and refer to legal developments involving Ripple and the US Securities and Exchange Commission (SEC) that could open doors for XRP’s breakout in the next bull run.
According to crypto analyst Jaydee, if past trends repeat, XRP could witness an extraordinary surge potentially reaching over $10.
Hot Take: Is This Finally XRP’s Time To Shine?
With the recent surge in trading volume and positive analyst sentiment, XRP appears to be gaining momentum. The increase in investor interest, coupled with legal victories for Ripple, could pave the way for XRP’s breakout in the next bull run. If historical patterns are any indication, XRP has the potential to shine and experience an extraordinary surge in value. Keep an eye on this altcoin as it continues to make waves in the crypto market.
By
By
By
By
By