Trading volumes for XRP, the sixth-largest cryptocurrency by market value, have increased. The number of units traded by traders, or the XRP trading volume, increased by 92%, reports CoinMarketCap.
A jump in trade volume, which may indicate investor positioning, frequently follows an increase in volatility.
At the beginning of May, XRP fell as market volatility increased due to the most recent First Republic Bank turbulence. As of the publication of this article, XRP has dropped to $0.463 in the previous day by 3.08%.
A market rebound as well as significant, turbulent events that have a tendency to spike volumes may have contributed to the 46% increase in XRP market volumes in the first three months of 2023 compared to the prior quarter.
According to a Ripple Q1 report, XRP volumes on decentralised exchanges (DEX) increased 34% over the aforementioned time period to $115 million from Q4, 2022.
According to reports, on May 1, Ripple released from escrow 1 billion XRP, valued $469.6 million. This follows the monthly XRP distribution plan implemented by Ripple since December 2017.
XRPL browser-based DEX to launch in May
Early on, XRPL Labs introduced a browser-based DEX that connected to the original XRPL DEX. From XRPL Labs, the company behind Xumm, a non-custodial XRPL wallet, comes the company’s first desktop trading product.
The web DEX brings Xumm’s apps to browsers worldwide by enabling users to safely and effectively use the XRPL DEX.
Unhosted.exchange has announced that when early access expires in May, the redesigned DEX user interface would be live worldwide.
