XRP Spot Volumes Surge 212% on Bitrue Amid Retail Buying Frenzy
The XRP price surge on Bitrue exchange has been substantial, with spot purchase volumes increasing by 212% between February 23 and 24. This significant rise in buying activity was primarily driven by retail demand, resulting in a two-day imbalance where buy orders exceeded sell-side activity by more than two times.
The increase in XRP spot accumulation on Bitrue follows a volatile phase for the broader crypto market and marks one of the largest short-term increases in recent months. The surge is notable, especially considering that it has occurred alongside steady institutional flows into XRP investment products.
Since their launch in mid-November, XRP exchange-traded funds have attracted $1.1 billion in net inflows, with positive weekly flows recorded despite limited periods of net redemptions. This trend diverges from bitcoin-focused funds, which have seen $1.3 billion in net outflows so far this year.