$XRP Surges to $15.4B in Daily Volume Amid Market Recovery

The cryptocurrency market has been showing signs of recovery, and Ripple's XRP token is among the biggest winners. In the latest market surge, XRP recorded its highest daily trading volume in nearly a year, reaching $15.4 billion on August 22. This marked a significant increase from its average daily trading volume of $1.1 billion in August.

The high trading activity was accompanied by a strong price increase, with XRP gaining 53% last week, making it the best weekly performance since November 2024. Despite the surge, however, XRP bulls could not turn the activity into major daily gains, with the token rising only 0.53% on August 22.

Notably, the global crypto market cap added $474 billion last week, giving major cryptocurrencies room to recover from their recent losses. This marked a significant recovery for the market, which had been under sustained selling pressure in previous months.