XRP Volume Jumps 170% Despite Crypto Sell-off
  • XRP trading volume increased by 170% to $1.035 billion.
  • There are roughly 10 million XRP locked in AMM pools on the XRP Ledger, indicating significant growth.

Despite the massive selling pressure on the overall market, XRP trading volumes have increased significantly: According to data from CoinMarketCap, XRP trading volumes have increased 170% to $1.035 billion in the past 24 hours.

The surge comes at a time of severe correction in the cryptocurrency industry, including major players like Bitcoin.

Cryptocurrencies fell further on Monday, with Bitcoin (BTC) dropping to around $60,000, while altcoins saw even bigger drops during the same period.

As reported by CoinGlass, this unexpected market drop led to the liquidation of over $281 million in leveraged derivative trading positions across all digital assets. Of this amount, major tokens lost up to 10%, with over $259 million in crypto longs sold in the past 24 hours.

XRP’s Resilience in a Bear Market

Despite the overall gloomy mood in the market, this didn’t stop traders from flocking to XRP, causing a significant increase in its trading volume.

The significant increase in trading volume suggests that investors are either taking advantage of the current volatility or preparing for future price movements in XRP.” According to data from CoinMarketCap, XRP trading volume has increased 170% in the past 24 hours, reaching $1.035 billion.

Meanwhile, at the time of writing, XRP is worth approximately $0.4774Down 1.52% Past day. 4.79%The price drop also hints at a bearish trend over the past seven days. The increase in trading volume during the price drop highlights the mixed sentiment among investors surrounding XRP.

Apart from the surge in trading volumes, there has been a lot of activity in the XRP Ledger’s AMM pool, where CNF recently drew attention to a significant increase, with almost 10 million XRP locked.

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