XRP’s trading volume completely dwarfs that of other altcoins rival significantly, with the closest being Solana’s. Sol<\/a>recording about $100 billion. Others like Dogecoin (USD<\/a>), Binance Coin (bnb<\/a>), and Polygon’s Matic<\/a> complete the top five, with more than $50 billion traded each.<\/p>\n This increased volume can be attributed to renewed investors’ interest in the cryptocurrency following Ripple’s partial victory<\/a> against the US Securities and Exchange Commission (SEC).<\/p>\n Crypto market maker Efficient Frontier, citing Kaiko data, noted<\/a> that the liquidity and trading for XRP improved majorly as Americans could business<\/a> the digital asset on major exchanges such as Coinbase following the crypto payment company’s victory.<\/span><\/p>\n Meanwhile, Bitcoin trading volume slipped 8% since the start of July following the Ripple ruling, according to Kaiko data. Kaiko added that BTC’s current trading volume dominance is at its lowest since April, at 27%.<\/p>\n Kaiko wrote<\/a>,<\/p>\n \u201cOffshore exchanges have experienced a more extreme drop in BTC trading activity, partly due to a spike in South Korean altcoin volume. Since the start of 2023, BTC dominance has fallen by 20%. On US exchanges.<\/p>\n<\/blockquote>\n On July 17, the blockchain analytical firm pointed out<\/a> that XRP trades surpassed BTC across 25 tracked centralized exchanges, as investors preferred the altcoin to the flagship digital asset,<\/p>\n While the court ruling positively impacted XRP’s price performance, increasing its value to an annual high above $0.80, the digital asset has begun to shed some of its gain, losing more than 7% during the past week, as per CryptoSlate’s<\/em> date<\/a>,<\/p>\n However, it is still up 43% during the last 30 days, as it was worth $0.47 before the ruling.<\/p>\n Meanwhile, the decline in XRP’s value can be linked to the general market slump<\/a> as there is increased speculation<\/a> that the Federal Reserve could raise interest rates by another 25 basis points.<\/p>\n The post XRP crowned top-traded altcoin of the year: Kaiko<\/a> appeared first on CryptoSlate<\/a>,<\/p>\nBitcoin’s volume suffers<\/h2>\n
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XRP Price Performance<\/h2>\n