XRP Trading Volume Surpasses Its $18 Billion Market Cap, What’s Cause of Anomaly?

An error was found in XRP trading volume33% more than the current cryptocurrency market capitalization. The total value of all XRP is $18.56 billion with a trading volume of $25 billion over the last 7 days. Among the top 10 cryptocurrencies by market capitalization, only stablecoins, USDT, and BUSD show similar numbers.

Reason for Abnormal Behavior XRP The increase in trading volume over time is largely due to the token being actively used in ODL operations by cryptocurrency company Ripple as fuel for the technology. A recent report shows that ODL usage is on the rise, both due to the growing business of older partners and the onboarding of new partners.

XRP liquidity is on demand

As reported by U. Today, ripple sold $2.82 billion worth of XRP through the ODL corridor in the third quarter of this year. Interestingly, Bitget and Binance account for the largest amount of his XRP trading, despite the fact that many exchanges have removed token trading after the launch of XRP. SEC legal investigation into Ripple.

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It is not known how XRP trading volume will change if regulators decide to recognize cryptocurrencies as securities. One of the main arguments among XRP proponents is their reliance on token sales on the secondary market, which, as we discovered, exceeds XRP’s market cap.