Over the last 24 hours, Ripple (XRP) enjoyed double-digit price gains, rising more than 11.5% to rank as the highest-performing cryptocurrency among the top 20.
As of the time of writing, XRP was trading close to $0.714, having risen as high as $0.717, according to CoinGecko.
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According to data, XRP futures saw liquidations of little over $4.4 million, suggesting that the gains were mostly driven by spot trading. Large liquidations usually indicate price activity driven by leverage.
XRP Leads the Pack: Ripple’s 11% Spike Outperforms Major Cryptos,XRP Leads the Pack: Ripple’s 11% Spike Outperforms Major Cryptos
Trading volumes for XRP reach $2 billion.
On Monday, Ripple’s trading volumes on spot markets reached a record $2 billion. Although there were no obvious triggers right away, last week’s good Ripple news did cause the surge.
Ripple declared on Thursday that XRP has been authorised by the Dubai Financial Services Authority in accordance with its framework for virtual assets. This makes Ripple’s services available to businesses in Dubai.
Using Ripple’s CBDC platform, the digital currency pilot project will involve the central bank of Georgia and Ripple, the company said the same day. Several nations have already used the company’s CBDC solution.
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The double-digit increase on Monday, despite the lack of a clear catalyst, illustrates the token’s upside potential as Ripple keeps racking up adoption victories. Because a settlement to Ripple’s ongoing SEC litigation would eliminate regulatory ambiguity, XRP would also benefit.
XRP Leads the Pack: Ripple’s 11% Spike Outperforms Major Cryptos,XRP Leads the Pack: Ripple’s 11% Spike Outperforms Major Cryptos,XRP Leads the Pack: Ripple’s 11% Spike Outperforms Major Cryptos , XRP coin Crypto news, XRP coin News