XRP trading volume surged tremendously this year, with investors buying and selling $117.2 Billion dollars across global crypto exchanges.
There has been growing interest in XRP among crypto traders globally. The widespread interest in XRP is reflected in its trading volume across various crypto exchanges since the beginning of the year.
XRP Global Trading Volume Surge
According to Coinmarketcap (CMC) data, a whopping $117.2B billion has been transacted across global crypto exchanges this year.
In May and June, $28,713,096,387 ($28.7B) and $35,567,120,710 ($35.5) in XRP were bought and sold across multiple trading platforms.
Interestingly, huge amounts of XRP coins have been traded in July. Per data from CMC, crypto traders have shuffled $49.1 billion in XRP on exchanges in July alone.
XRP trading volume soared this month after Judge Analisa Torres issued the much-anticipated summary judgment in the SEC v. Ripple case. As reported, the judge ordered that XRP is not a security, thus boosting investors’ confidence in the asset.
South Korean Exchanges Lead In XRP Trading
XRP trading activity skyrocketed shortly after the ruling, with South Korean exchanges leading. On July 14, leading South Korean crypto exchange Upbit recorded a 24-hour trading volume of $2.5 billion.
At press time, XRP is the sixth most traded coin on Upbit, with $65.6 million worth of XRP bought and sold in the past 24 hours.
XRP volume on Korean Exchanges 3X More Than ETH
It is worth noting that Korean exchanges have been leading the way in XRP trading activities in the early stage of the year.
From January to May, XRP trading volume on Korean exchanges totaled $24.5 billion. Interestingly, this is nearly three times Ethereum’s trading volume at the time, around $9 billion.
However, Bitcoin ranked as the most traded crypto on Korean exchanges between January and May.
XRP 24-Hour Trading Volume on Exchanges
Meanwhile, XRP’s volume has slumped 44% in the past 24 hours. According to data from CoinMarketCap, XRP has a volume of $833.7 million on all mainstream crypto exchanges globally.
Interestingly, XRP trading volume on Binance in the past day stood at $101.6 million, ranking as the sixth most traded coin on the platform.
When writing this line, XRP is trading at $0.71, up 1% in the past 24 hours.