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- XRP trading volume surged by 170%, reaching $1.035 billion.
- Nearly 10 million XRP locked in XRP Ledger’s AMM pool, indicating significant growth.
Trading volumes for XRP have increased noticeably, even as the market as a whole is experiencing a major sell-off. CoinMarketCap data show that in the past 24 hours, XRP’s trading volume has climbed by 170% to $1.035 billion.
This upsurge occurs amid a period of severe correction in the cryptocurrency industry, which includes big players like Bitcoin.
Cryptocurrencies fell much more into a slump on Monday, with Bitcoin (BTC) falling to around $60,000. The same time frame saw even more significant declines in altcoins.
CoinGlass reports that this unexpected market decline resulted in the liquidation of leveraged derivatives trading positions across all digital assets, totaling over $281 million. Of this amount, key tokens had losses of up to 10% and over $259 million in crypto longs were sold in the last 24 hours.
XRP’s Resilience Amid Bearish Sentiment
The general pessimistic market mood has not stopped traders from swarming to XRP, greatly increasing its trading volumes.
The significant surge in activity implies that investors are either taking advantage of the volatility that is present or setting themselves up for future price swings in XRP.” Trading volume for XRP increased by 170% in the previous 24 hours to $1.035 billion, according to CoinMarketCap data.
Meanwhile, as of writing this, XRP is trading at roughly $0.4774, down 1.52% over the last day. At 4.79%, this price decline also suggests a bearish trend during the last seven days. The higher trading volumes during the price decline highlight a complicated investor mood surrounding XRP.
Apart from the surges in trading volume, the AMM pool of the XRP Ledger has seen a lot of action. CNF recently brought attention to the significant rise of this pool, which has locked in almost 10 million XRP.
