XRP Overtakes Bitcoin in U.S. Trading Volume as Investor Sentiment Shifts
XRP has surged past Bitcoin (BTC) to become the most traded cryptocurrency on Coinbase, marking a significant shift in U.S. investor interest. While Bitcoin remains the most-traded cryptocurrency on Binance, the world’s largest exchange by volume (which is unavailable to U.S. users), XRP has claimed the top spot on Coinbase, a key platform for U.S.-based traders.
The increase in XRP’s trading volume comes amid a broader resurgence in interest surrounding Ripple’s blockchain technology and its payments network. This surge follows Ripple CEO Brad Garlinghouse’s meeting with President-elect Donald Trump, which added to speculation about the possibility of a U.S. spot XRP exchange-traded fund (ETF), further boosting the token’s momentum.
As of now, the XRP/USD trading pair accounts for 25% of Coinbase’s total 24-hour trading volume, which stands at $6.86 billion. Bitcoin’s BTC/USD pair comes in second, contributing 20%, while Ethereum (ETH) is third. Meanwhile, on Binance, XRP continues to maintain its position as the second-most traded cryptocurrency behind Bitcoin.
XRP has experienced a remarkable price increase of over 600% since November, reaching $3.33, its highest level since 2017. This price rally has been accompanied by a spike in large-holder activity and a record-breaking futures open interest. According to data, the number of unique addresses holding at least $100,000 worth of XRP has increased to 108,540. This surge in investor engagement reflects growing confidence in XRP’s long-term potential.
