Crypto
XRP Trading Volume Hits Six-Month High on Binance
XRP's spot trading volume on major exchanges has reached its highest level in six months, according to data from CryptoQuant author Arab Chain. Binance led with $7.28 billion in XRP trading activity, followed by Upbit and Bithumb.
This surge in trading volume coincided with a 72% price increase for XRP in August, which helped boost market interest in the coin. However, the price has since cooled following a 21% dip.
Elliott Wave analyst XForceGlobal believes that XRP could resume its uptrend after a recent pullback and target $3-$4. This prediction is based on declining XRP reserves on Binance, which have dropped by about 500 million XRP.