CandleFocus XRP Rockets 66% in Volume as Bulls Take Charge
2024-10-07
Author: Content Editor
XRP has experienced a significant increase in trading activity, with perpetual derivatives trading volume rising by over 66% in the past 24 hours, reaching $1 billion in total turnover. This has made XRP the 12th largest token by derivatives trading volume. Trading activity in the spot market also saw a 71% increase, resulting in a total turnover of over $2.03 billion across all markets. This level of engagement in XRP trading is considered normal. The increase in trading activity is not only attributed to XRP but also to optimism among market participants due to expectations of easing geopolitical tensions. The XRP price has risen by over 1.5% since the beginning of the week, but it still has a long way to go to recover from last week's drop. The possibility of an XRP ETF boosting the price is uncertain based on the current price chart.
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