XRP Trading Volumes Suddenly Up 542%, What’s Happening?

XRP trading volume Per CoinMarketCap data, it suddenly rose by more than 500%. However, the price of XRP did not move much, leading many traders to speculate. At the time this article was published, XRP was trading at $0.475, down 1.74% over the past 24 hours.

High volatility generally increases trading volume in any market, as seasoned traders buy and sell large volumes to make a profit. XRP was the top gainer in the market as its price surged more than 20% on Sept. 29 after Ripple’s big win in the ongoing lawsuit.

In a recent court ruling, District Court Judge Torres ordered the SEC to turn over former employee William Hinman’s emails to Ripple after many hoops from the SEC. While many expect an SEC counterpunch, Ripple general counsel Stuart Alderoty expects this sixth decision to be the last to grant access to the Hinman documents. increase.

Is XRP Volume Always High?

$26 billion?man preparing to pump pic.twitter.com/k9Gqx5YzAs

Alex Cobb (@AlexCobb_) October 1, 2022

Similarly, XRP volume This could be due to investors wanting to buy XRP at the current low price. Traders are probably scrambling to take advantage of the opportunities presented by recent XRP volatility. It has been said by some observers that it is a measure of impossibility.

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230 Million XRP Moved Between Wallets

Hundreds of millions of XRP have seen additional movements in the past 24 hours, according to Whale Alert, a platform that tracks large movements in cryptocurrencies. Whale Alert reports that this time he moved 231 million XRP between wallets in two different transactions.

of first transaction 130,000,000 XRP worth $63,447,589 was transferred between two unknown wallets, and a second transaction of 101,000,000 XRP worth $49,573,290 was reported hours ago.

in the meantime, another 23,999,900 XRP worth $11,489,021 was transferred to FTX from an unknown wallet.