In a joyous development, trade volume for XRP, the sixth-largest cryptocurrency by market capitalization, has increased by an astounding 74% in the last day, hitting a whopping $1.6 billion, according to CoinMarketCap.
The remarkable 5.5% upward rise in the price of XRP today corresponded with this increase in trading activity. The well-liked digital asset touched $0.646 per token, a two-week high. According to U.Today, this significant price change has put XRP in position to record its best December performance in six years.
XRPL witnesses activity boom
But the main action takes place on the XRP Ledger, where the token is essential. A record amount of activity has been observed, according to data from XRP Scan, with 507,134 distinct XRPL accounts having been paid in the last day. The fact that this number is the highest since mid-August indicates a notable increase in network involvement.
Not to be overlooked is the spike in newly opened accounts in a single day – 4,023 altogether, an astounding 224% rise from the day before. Increased activity in a token’s network has historically been used to predict a future price spike, and XRP appears to be doing the same.
With the bullish momentum in the crypto market, XRP’s success on Christmas Day further supports its potential for an exceptional December—possibly the greatest in recent memory.
The combination of higher trading volume, a noticeable price gain, and unheard-of activity on XRP Ledger puts the digital asset in a favourable position as the year comes to an end.
