XRP Skyrockets 30% In Volume As $30 bn Market Cap Nears
The trading volume of XRP has increased by 30%, reaching $794 million in the spot market, according to CoinMarketCap.
CoinGlass reports a 11.29% growth in XRP derivatives trading, reaching $608.21 million. The total trading volume of XRP during the period under review is estimated at $1.4 billion.
This rise in trading volumes coincides with the cryptocurrency approaching the $30 billion mark in market capitalization, currently standing at $29.32 billion.
XRP is just 2.26% short of the token’s price growth to the key mark, having already reached this threshold on a single occasion.
The growth of trade volume indicates increased interest from market participants, but the ratio of market capitalization to trading volume is currently 4.66%, which is within the normal range of activity.
As XRP’s market capitalization surpasses $30 billion, the token may potentially rank among the top 600 largest entities in the world. With renewed interest from market participants, the answer is imminent.
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