- XRP emerged as the most traded altcoin on Binance this December, generating over $116.6 million in trading volume despite a 25% drop from its recent highs.
- Analysts anticipate a quick recovery for the Ripple-linked token, which remains a key player in the crypto market with bullish prospects for 2025.
This December, XRP has stolen the spotlight as the most traded alternative cryptocurrency on Binance, according to data from CryptoQuant analyst JA Maartunn. Despite recent market turbulence, the Ripple-linked token continues to command significant attention from traders and investors alike.
A Surge in Volume Amid Market Decline
The trading volume for XRP on Binance Futures has surpassed an impressive $116.6 million. While the broader crypto market, including Bitcoin and other altcoins, has suffered notable price drops, XRP’s activity remains robust. According to Maartunn, the token is poised for a relatively quick recovery despite these challenges.
XRP experienced a sharp decline recently, with its price plunging to an intraday low of $2.13. This marks a drop of more than 4%, underperforming many major cryptocurrencies. Additionally, XRP is now down over 25% from its multi-year high achieved earlier this month. Back then, a surge driven by Coinbase whales propelled the token to new heights.
Dominance in Trading and Global Interest
CoinGlass data reveals that XRP’s open interest currently stands at $1.9 billion, with Binance contributing nearly half of this figure at $812 million. Other major platforms like Bitget and OKX trail behind. Over the past 24 hours, XRP has generated $9.6 billion in trading volume, securing its position as the fifth most-traded cryptocurrency globally—behind Bitcoin, Ethereum, Tether’s USDT, and USDC.
In South Korea, XRP even managed to flip Bitcoin’s trading volume earlier this month during the peak of its rally. The token also reached a record high in Google search interest, indicating heightened global attention. However, this trend has since subsided, reflecting the fast-paced and volatile nature of the cryptocurrency market.
Looking Ahead to 2025
Despite the recent downturn, XRP’s future appears promising. Analysts suggest that the token could benefit from bullish catalysts in 2025, including the growing interest in cryptocurrency ETFs in the U.S. This could reignite investor confidence and drive further adoption of XRP.
Conclusion
XRP’s performance this December underscores its resilience and ability to capture market interest, even in challenging conditions. As traders keep an eye on its recovery trajectory, the token remains a significant player in the altcoin space, promising an eventful year ahead. Whether it’s its trading dominance on Binance or its potential bullish drivers, XRP is undoubtedly one to watch in the crypto world.
