XRP just ousted Bitcoin as the most traded asset on Coinbase, proof of its popularity in the US.
Ripple’s associated coin XRP XRP $1.88 24h volatility: 1.3% Market cap: $113.66 B Vol. 24h: $1.81 B has experienced a dramatic shift on Coinbase and the cryptocurrency landscape. According to CoinDesk, the price of XRP has surged ahead of Bitcoin BTC $88 221 24h volatility: 1.1% Market cap: $1.76 T Vol. 24h: $40.58 B to become the most-traded digital asset on Coinbase.
The Nasdaq-listed exchange is often seen as a barometer for US crypto demand. This milestone underscores a renewed appetite for XRP, driven by political, speculative, and technological factors.
XRP Rally on Coinbase and Market Dynamics
XRP now dominates the Coinbase exchange’s trading activity, accounting for 25% of the exchange’s 24-hour trading volume, totaling $6.86 billion. Bitcoin (BTC), traditionally the front-runner, trailed behind with a 20% share, while Ethereum ETH $2 966 24h volatility: 1.3% Market cap: $358.07 B Vol. 24h: $19.79 B took the third spot.
This shift reflects a growing preference for XRP among US investors, bolstered by the recent recovery in domestic demand. The surge aligns with the Coinbase premium indicator, which measures US interest and showed more activity with XRP last week.
Meanwhile, Bitcoin maintains its lead on Binance, the world’s largest cryptocurrency exchange by volume. XRP ranked as the second-most traded asset on the trading platform. XRP price has soared to $3.33, its highest level since 2017, marking a more than sixfold increase since November.
This week alone, the token’s valuation has jumped by 33%. The rally is supported by record futures trading and a surge in large holders. Onchain data shows that 108,540 unique addresses now hold at least $100,000 worth of XRP.
This record signals growing confidence among high-net-worth investors. Additionally, trading volumes on major exchanges have hit new highs, signaling robust market activity.
At the time of writing, XRP price was trading at $3.26, up by 7.00% in the last 24 hours as per market data.
Analysts have projected a bullish XRP price trajectory, with a potential 5x rally targeting $15.
Trump’s Victory and Garlinghouse’s White House Visit
XRP’s meteoric rise can be traced back to November, following Donald Trump’s election victory. The virtual asset emerged as the biggest gainer in the post-election rally, climbing over 600% since the vote.
A meeting between Ripple CEO Brad Garlinghouse and the president-elect added to the buzz, sparking hopes for better regulatory support for XRP.
Rumors of an impending spot XRP exchange-traded fund (ETF) approval have excited investors even more. If this happens, it would mark a significant milestone for XRP, potentially opening the floodgates for institutional investment.
As reported by Coinspeaker, many in the crypto community think XRP could benefit if Trump’s administration creates a US-based digital coin reserve. They believe this move could boost XRP’s importance in the market.
XRP’s rise to the top on Coinbase marks a new chapter for the asset. XRP is emerging as a strong contender in the crypto world. This comes as Ripple’s payment technology is gaining attention worldwide, and regulatory clarity is potentially on the horizon.
While it is unclear if XRP can sustain this momentum, its recent success shows how quickly the digital finance landscape can change.
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