The demand for XRP has surpassed other cryptocurrencies on US-based exchanges, with trading volumes seeing a significant surge since November 2021. XRP contributed more to Coinbase's trading-based revenue than Ethereum for the first time in recent history, accounting for 14% of the exchange's total trading revenue in the fourth quarter. The resurgence in XRP's trading volume came after its re-listing on major US exchanges following a court victory against the US Securities and Exchange Commission (SEC). The ruling clarified that XRP was not a security when sold on exchanges, resulting in renewed investor interest and increased trading activity. The potential approval of a spot XRP exchange-traded fund (ETF) is also speculated to have fueled the spike in XRP trading. As the SEC acknowledges XRP ETF filings, analysts estimate a 65% chance of approval, with the possibility of increased odds depending on the resolution of ongoing lawsuits. The approaching deadline for a decision on the XRP ETF is expected to bring heightened volatility to the market, similar to what was observed with Ethereum in 2024. Given institutional interest and regulatory clarity on the horizon, XRP's trading dominance is anticipated to continue in the near term.



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