XRP Becomes Decembers Most Traded Altcoin on Binance Despite Recent Price Drop
- XRP is the most traded altcoin on Binance this December with over $116.6 million in trading volume.
- Even though its price dropped recently, XRP is expected to bounce back quicker than other altcoins.
- XRPs wallet numbers are growing, showing more people are interested in it after the SECs decision.
XRP Leads Binance Futures
In December 2024, XRP has become the most traded alternative cryptocurrency on the Binance exchange, according to analyst. It has recorded over $116.6 million in trading volume on Binance Futures, outpacing other altcoins. This increase in trading volume comes during a time when many cryptocurrencies, including Bitcoin, have seen their prices fall.
XRPs strong performance on Binance Futures shows that it is gaining more attention from traders, even with the drop in price. On December 23, the price of XRP dropped to $2.13, a 25% decrease from its high on December 3. Despite this, It has remained one of the most traded cryptocurrencies in the market. In fact, during its recent price surge, XRP briefly surpassed Bitcoin in trading volume in South Korea, a notable achievement for the coin.
Rising Wallet Activity
One reason for XRPs strong performance is the increase in the number of people holding and using XRP. After the U.S. SEC ruled in 2023 that it is not a security, many investors became more confident in the token. This has led to an increase in active wallets. According to Santiment, the number of wallets holding XRP has grown significantly, with 5.75 million new wallets added over the last two years.
Even with price drops, analyst believes that it will recover quickly compared to other altcoins. This is because XRP has shown strong resilience, and its growing popularity among investors makes it a token to watch in the future. As more people start using XRP and new opportunities arise in 2025, such as the buzz around ETFs in the U.S., XRP is likely to continue performing well.
In summary, XRPs strong performance in December, despite recent price drops, shows that it is still a popular choice for traders. With more people adopting it and its position as the most traded altcoin on Binance, its set to remain an important player in the cryptocurrency market.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
