The trading volume of XRP on Coinbase has skyrocketed by 9,640% in just 24 hours, reaching $438 million. This surge in volume indicates increased trading activity as traders take advantage of recent price movements and market volatility. Additionally, XRP depository receipts may soon be available for purchase, allowing investors to own the underlying XRP without directly buying it through a cryptocurrency exchange. These receipts would be similar to ETFs, bridging the gap between traditional finance and decentralized finance. Cboe has also submitted filings to list and trade XRP ETFs from various companies. However, the overall cryptocurrency market has remained mostly down, with XRP down 4.49% in the last 24 hours and 19% for the week. Bulls will aim to reclaim the key daily SMA 50 level at $2.62, while consolidation between the daily moving averages 50 and 200 at $2.62 and $1.32 is another possible scenario.



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