Jan remains bullish on Avado. XRP stands out as the star performer on the altcoin market at Binance in December, making it the most traded of all altcoins. From such statistics, it becomes evident that XRP was able to post rather healthy trading volume, with over $116 million recorded at Binance Futures, which supports its argument despite the prevailing market conditions.
However, the cryptocurrency market has appeared very unstable, and Bitcoin, as well as several other altcoins, have experienced the current price decline of XRP, which looks rather resistant. Though it has marginally declined by 11% in the last week, it is trading currently at $2.25, and the annual return of the altcoin is a whopping 250%.
Binance’s Top Traded Altcoin in December ’24
“XRP is the most traded altcoin on the Binance Futures market, with a trading volume of 116.6B already, and the month isn’t over yet.” – By @JA_Maartun
Full post 👇https://t.co/oR5GhIAZ9e pic.twitter.com/Kv9sZyy0vz
— CryptoQuant.com (@cryptoquant_com) December 23, 2024
XRP Gains Momentum Amid Volatile Market And Adoption Growth
That is why investors seek such a performance amid an unstable environment and low volatility. Experts believe that XRP’s high trading volume stems from its healthy bounce-back mechanism and traders’ continued engagement with derivatives markets.
Derivatives trading Traders engaged in potential price changes of XRP, which recorded a 34% rise from February of the same year. However, where there is a decline in open interest, this may be an indication that some traders are closing their positions due to the risky environment.
Such is the case with XRP, which first experienced an increase in the number of adopted wallets. Santiment data shows that the current number of non-empty XRP wallets has increased by 28% in two years to 5.75 million. This aligns with characteristics exhibited in general crypto-asset usage trends observed from leading cryptocurrencies such as BTC and ETH.
😲 The past 2 years have seen big increases in cryptocurrency holders. Here are the number of non-exmpty wallets for crypto’s top 4 coins by market cap:
Bitcoin $BTC: 54.7M (+27% rise)
Ethereum $ETH: 134.9M (+47% rise)
Tether $USDT: 6.57M (+66% rise)
XRP $XRP: 5.75M (+28% rise) pic.twitter.com/rcd50VAikZ— Santiment (@santimentfeed) December 23, 2024
More wallet addresses mean more people are holding XRP for longer periods, thus improving XRP’s market standing in retrieving its stability of value. These individuals have been identified as the group likely to continue holding XRP over the long term as their numbers keep growing.
The outstanding trading results of XRP on Binance’s altcoin market, as well as increased usage and stability during fluctuations, make it an object of interest for fans. With adoption turning more into an asset, analysts expect Ripple to continue to dominate the emerging digital currency space.
This revenue stream supports XRP with highly favorable trading indicators and improving adoption, enabling it to remain on the map of altcoins and be a contender among them.
This news is republished from another source. You can check the original article here
