XRP has seen a surge in demand on US-based exchanges, surpassing other cryptocurrencies in trading volumes since November, as reported by Kaiko.
Coinbase’s latest earnings report revealed the growth of XRP in trading activity. For the first time, XRP contributed more to Coinbase’s trading revenue than Ethereum (ETH).
In the fourth quarter, XRP accounted for 14% of Coinbase’s total trading revenue, reflecting a broader trend across US exchanges.
Following its re-listing on major US exchanges after a legal victory against the SEC, XRP’s trading volume has surged, fueling renewed investor interest.
Kaiko’s liquidity ranking places XRP third, behind Bitcoin (BTC) and ETH, indicating strong market cap liquidity.
Speculation around ETF
The spike in XRP activity is partially attributed to speculation about the potential approval of an XRP exchange-traded fund (ETF), with asset managers showing interest in introducing such products.
The SEC’s acknowledgment of XRP ETF filings has ignited anticipation, with analysts suggesting a 65% chance of approval for a spot XRP ETF in the US.
Market participants anticipate increased volatility as the SEC reviews XRP ETF filings, similar to the surge seen in Ethereum trading after the approval of spot Ethereum ETFs.
With growing institutional interest and regulatory clarity in the US, XRP’s trading dominance is expected to continue, shaping the future of digital asset investment strategies.
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