XRP Trading Activity Surges to Six-Month High Amid Broader Market Recovery
XRP trading activity has accelerated in August as spot volume reached its highest level since February. According to CryptoQuant data, Binance led XRP trading with approximately $7.28 billion in spot volume, followed by Upbit and Bithumb Korea.
The rise in trading activity coincided with a broader market recovery, as Bitcoin climbed above $80,000 and Ether approached $2,500. XRP's price also increased, gaining around 8% in 24 hours to trade near $1.45.
CryptoQuant contributor Darkfost noted that the decline in Binance's 30-day average XRP reserves may be a positive long-term signal, as it returned to levels last seen around February 2024. However, this trend does not confirm any short-term price direction or provide direct insight into future price movements.
The introduction of spot XRP ETFs in late 2025 has also added another source of demand for the token. Bitwise's XRP ETF, which holds nearly 364.8 million XRP, saw its net assets rise by $502.7 million in August.