XRP's spot trading volume climbed to its highest level since February during August, led by Binance's $7.28 billion in trades. The token's price followed the broader market higher, trading near $1.45, while the volume pickup pointed to improving liquidity around XRP.
XRP's spot trading volume climbed to its highest level since February during August, and the token's price is now up roughly 8% in the last day to trade near $1.45. The pickup landed as the broader crypto market came back to life, with Bitcoin clearing $80,000 for the first time in a week and altcoins moving along with it.
Volume Returns Across Major Exchanges
Data shared by CryptoQuant contributor Arab Chain showed XRP's spot trading volume rising across several major exchanges last month, reaching its highest point since February. Binance accounted for the largest share, logging about $7.28 billion in XRP trades during August. Upbit followed at around $4.68 billion and Bithumb Korea at close to $2.59 billion.
Bybit processed about $1.40 billion, Gate.io around $1.33 billion, and KuCoin near $1.23 billion. Bitget and Coinbase each came in just under the billion-dollar mark, at $918.5 million and $915.4 million respectively.
On its own, a jump in trading volume does not point to higher or lower prices ahead — it simply means more buyers and sellers are active. Still, hitting a six-month high on volume points to a real improvement in liquidity around XRP, and if that pace holds, it could help the token absorb bigger price swings going forward.
Price Follows the Rest of the Market Higher
XRP is changing hands around $1.45, up more than 6% in the last 24 hours, per CoinGecko. The token has traded between $1.35 and $1.48 in the last day and between $1.31 and $1.48 in the last week. The weekly change of just 1.4% suggests most of the recent gain came in one quick move rather than a steady climb.
Source: CryptoPotato
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