Ripple (XRP) reaches significant milestone in December
Ripple's XRP saw a significant increase in trading volume in December.
Ripple's XRP saw a significant increase in trading volume in December.
In recent days, the price of XRP experienced many fluctuations. The price dropped from $2.60 to a low below $2. However, since Dec. 21, the cryptocurrency has stabilized above $2.20, where it is currently trading.
While many market analysts speculate whether XRP's bullrun is coming to an end, volatility seems to have actually caused a surge in trading volume, particularly on Binance.
According to an analyst at CryptoQuant, XRP is the most traded altcoin and number one on the list of the largest exchanges in December so far.
XRP dominates Binance Futures
More specifically, XRP is the most traded altcoin on the Binance Futures platform, and not on the spot market. Trading volume is now around $116 billion, and December is not over yet.
"It is important to keep an eye on the most traded coins on Binance, as they should be the focus when trading altcoins. In the past two days, both Bitcoin and altcoins have experienced large declines. XRP seems to be one of the coins that can recover quickly," the analyst said.
Important level of $2.20
On Dec. 21, popular trader and market analyst Ali Martinez emphasized that the $2.20 mark is crucial for the future price of XRP. He stated that if XRP can stay above this level, it may be able to consolidate for some time before trying to break through the $2.70 resistance again. However, if support falls away, he foresees an "inevitable drop to $1.96."
