Crypto enthusiast JackTheRippler recently highlighted a significant development in the digital asset market, stating, “BREAKING: XRP dominates the spot trading volume on Coinbase!” This announcement was accompanied by a data snapshot showing XRP surpassing Bitcoin (BTC), Ethereum (ETH), Hedera (HBAR), and Tether (USDT) in trading volume on the platform. The attached chart reveals XRP’s trading volume at $1.77 billion, accounting for 28.02% of Coinbase’s spot trading activity. By comparison, Bitcoin recorded $1.18 billion in volume, representing 18.64%, while Ethereum’s trading volume stood at $424 million, or 6.71%. Hedera and Tether followed with $373 million (5.91%) and $354 million (5.61%), respectively. This surge in XRP’s activity underscores its growing traction within the crypto market. BREAKING: #XRP dominates the spot trading volume on Coinbase! pic.twitter.com/h1YKx2eMg4 — JackTheRippler © (@RippleXrpie) January 17, 2025 An X (formerly Twitter) user, LYMPID, commented on the development, suggesting that the rise in XRP’s dominance reflects improving market sentiment and regulatory clarity. They wrote, “This is what happens when regulatory uncertainty starts clearing up. With potential ETF approvals , XRP’s role in cross-border payments, and the growing push for RWA settlements, we might be seeing the early stages of a supply crunch.” Market Dynamics and Regulatory Developments The increased trading volume comes at a pivotal period for XRP and the broader cryptocurrency market. Following its partial legal victory against the SEC in 2023, XRP has regained momentum as regulatory uncertainties gradually dissipate. Market participants closely monitor the potential approval of cryptocurrency exchange-traded funds (ETFs), which could further enhance liquidity and mainstream adoption. Additionally, XRP continues to play a critical role in cross-border payments, leveraging its efficiency and speed compared to traditional systems. Its integration into real-world asset (RWA) settlements is also gaining attention as blockchain-based solutions become viable for financial institutions. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 XRP’s Price Performance According to data from CoinMarketCap, XRP is currently trading at $3.20. Despite experiencing a slight price decline of 0.5% over the last 24 hours, the asset has surged by 28% over the past week. This growth indicates robust demand and aligns with the heightened trading activity observed on Coinbase. Market analysts suggest that the increased volume and price movements could signal a potential supply crunch for XRP. As institutional interest grows and retail investors seek exposure to assets with utility-driven value, XRP’s market dynamics may experience further shifts. XRP’s Regulatory Clarity XRP’s dominance on Coinbase highlights the evolving preferences of crypto investors. While Bitcoin and Ethereum have traditionally led trading activity, the recent focus on utility-based tokens like XRP underscores the market’s maturation. As regulatory clarity improves and institutional adoption accelerates, assets with tangible use cases may continue to gain prominence. The recent surge in XRP’s trading volume reflects a combination of factors, including improved market sentiment, regulatory progress, and growing adoption for practical applications. Whether this trend continues will depend on broader market developments, including ETF approvals and advancements in blockchain-based payment systems. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post XRP Dominates Spot Trading Volume On Coinbase appeared first on Times Tabloid .
