XRP Beats Bitcoin As The Highest Traded Asset: On-Chain Data

By CoinGape July 18, 2023 In Bitcoin, Ripple, Trading

XRP News: A partial win for XRP in the long running lawsuit between Ripple and U.S. Securities and Exchange Commission (SEC) has led it to become the only crypto to gain some legal clarity. However, the recent massive price jump has led the XRP token to beat the biggest crypto, Bitcoin (BTC) on several matrices.

XRP Outperforms Bitcoin

According to the data provided by Kaiko, XRP has managed to surpass Bitcoin as the highest trading volume asset. It mentions that since the summary judgment being presented in the Ripple case, 21% of all the crypto trading volume has been for XRP.

Bitcoin accounted for 20% of all the crypto trade volume took place since then. While, Ethereum (ETH), the second largest crypto registered just 8% of the total volume.

The much anticipated win for XRP against the US SEC has led to a massive increase in its demand among the crypto community. XRP’s trading volume has jumped by around 10 times over the past week. However, it is important to note that the recent increase in volume is only at 10 month highs. Read more XRP News Here…


Best Is Yet To Come For XRP?

Data provided by Leonidas depicted that XRP’s trading volume spiked to $10.4 billion on July 13th (the day when the ruling in the Ripple case came out). However, this daily trading volume recorded has been only the 76th largest of the token. The highest trading volume recorded for XRP $37 billion was registered on April 6th, 2021.

XRP price is up by 118% based on the year to date (YTD) basis, while Bitcoin managed to register a gain of 81%. XRP is trading at an average price of $0.739, at the press time. Its 24 hour trading volume is down by 3% to stand at $3.1 billion.

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