XRP Emerges as Biggest Gainer Since Trump Victory and Most-Traded Altcoin on Binance

Despite recent unimpressive price actions, XRP continues to shatter key metrics and solidify its position as a major player in the crypto market.

A recent study from CryptoQuant, an analytics platform, has confirmed that XRP is the most-traded altcoin on Binance Futures for December 2024.

The report revealed that XRP has garnered an impressive trading volume of $116.6 billion so far, and the month is not yet over.

XRP Beats Solana and Dogecoin in Volume

Next in line after XRP’s volume on Binance is Dogecoin, the largest meme coin by market cap. Dogecoin is seeing $58.63 billion so far, while XRP’s volume is double that figure, demonstrating stronger investor interest.

Solana’s trading volume, which follows, further lags behind XRP, with SOL having registered $49.33 billion so far. Other top-traded assets on Binance Futures this month include PEPE with $27.47 billion, BNB with $18.61 billion, and SUI, which boasts $14 billion. Notably, this metric excludes the trading volumes of Ethereum and Bitcoin.

XRP’s performance stands out during a period of heightened market volatility. Over the past few days, Bitcoin and altcoins have experienced significant declines, shaking trader confidence across the board.

Meanwhile, JA Maartun, a market watcher at CryptoQuant, argues that XRP could be among the first to rebound, owing to its liquidity and consistent demand on major platforms like Binance.

XRP Futures Volume on Binance in Previous Months

Previously, XRP’s volume on the Binance Futures market saw more muted activity, averaging under $30 billion. For instance, in the first quarter of the year, XRP’s highest volume was $43 billion, recorded in March, during which its price spiked dramatically to $0.74 in a single day. Notably, during this time, Solana led with volumes as high as $161 billion.

However, XRP’s volume worsened in the second quarter, with monthly volumes as low as $10 billion in July. This trend continued until October. The main turnaround came in November, when XRP registered a volume of $104 billion, although it still significantly lagged behind Dogecoin’s $207 billion during the same period.

XRP’s spike in volume since November coincided with its impressive price action that month, soaring by 5X from $0.49 to nearly $3. However, bearish sentiment is currently dominating the crypto market, impacting XRP’s price. Still, it boasts higher trading volume than Dogecoin and Solana, which are among the market’s favorites.

Now, market analysts believe XRP could be among the first to rebound, given its current metrics. XRP is currently trading at $2.23, with a 0.44% gain over the past day.

XRP Biggest Gainer Since Trump Victory

Furthermore, a separate disclosure by Sistine Research uncovered that XRP has been the biggest gainer in the crypto market since the November presidential election, in which Donald Trump won.

Specifically, XRP boasts a 328% gain compared to 38% for Bitcoin and Ethereum. Solana and Dogecoin saw gains of 8% and 84%, respectively. Other impressive performances include Cardano (ADA), with a 160% gain, and Chainlink (LINK), with a 99% gain.

Top 10 cryptocurrency performance since the election on Nov 5:

BTC: +38%
ETH: +37%
XRP: +328%
SOL: +8%
BNB: +15%
DOGE: +84%
ADA: +160%
TRON: +53%
AVAX: +54%
LINK: +99%

— Sistine Research (@sistineresearch) December 22, 2024