17th January 2025 – (New York) According to data from CoinGecko, the XRP/USD trading pair has dominated activity on the Coinbase exchange, accounting for over 25% of its 24-hour trading volume. The pair registered more than $1.7 billion in trading, significantly eclipsing the BTC/USD pair, which recorded $1.3 billion, or 19.6% of the total volume.
This surge in XRP’s trading activity positions it as the third most actively traded cryptocurrency, trailing only Bitcoin and Ethereum. Overall, XRP has amassed an impressive $20 billion in trading volume, marking a significant milestone for the Ripple-affiliated token.
XRP’s momentum has been further bolstered by its recent price movement, reaching a new record high after seven years. In just 24 hours, more than $18 million in XRP short positions were liquidated, as reported by CoinGlass. Additionally, the total futures open interest for XRP has surged to $8 billion, reflecting an 8% increase.
Speculation surrounding XRP has intensified, particularly with reports suggesting that the U.S. government may consider establishing a reserve involving American coins like XRP. This information, initially reported by the New York Post, has generated considerable buzz within the cryptocurrency community, although analysts advise caution regarding the reliability of such claims.
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