{"id":35969,"date":"2024-02-09T20:52:51","date_gmt":"2024-02-10T00:52:51","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=35969"},"modified":"2024-02-09T20:52:51","modified_gmt":"2024-02-10T00:52:51","slug":"a-comeback-story-heres-how-the-xrp-trading-volume-fared-in-q4-2023","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/09\/a-comeback-story-heres-how-the-xrp-trading-volume-fared-in-q4-2023\/","title":{"rendered":"A Comeback Story: Here\u2019s How The XRP Trading Volume Fared In Q4 2023"},"content":{"rendered":"

A recent report released by Ripple in its Q4 2023 XRP Markets Report unveiled<\/a> that XRP experienced a substantial increase in daily trading volume, hitting roughly $600 million this quarter. According to the report, this surge represented a 75-100% growth compared to the lower trading volumes observed in Q3.<\/p>\n

Notably, the Ripple report suggests a rejuvenation in investor interest and market activity for the altcoin, marking a notable shift from the previous quarter\u2019s performance.<\/p>\n

Ripple\u2019s XRP Holdings And Other Crypto Volume In Q4 2023<\/h2>\n

Ripple\u2019s Q4 report also provided insights into the company\u2019s XRP holdings. As of September 30, 2023, Ripple\u2019s total XRP holdings were more than 5.25 billion, stored in its wallets, plus another 41.3 billion XRP secured in on-ledger escrow.<\/p>\n

However, by the close of December 2023, Ripple\u2019s wallet holdings had slightly reduced to about 5.08 billion of this token, and the XRP in on-ledger escrow had also decreased to approximately 40.7 billion.<\/p>\n

According to the report, Ripple\u2019s access<\/a> to the escrowed XRP is restricted until scheduled monthly releases occur, a mechanism that ensures the controlled release of tokens into the market.<\/p>\n

Meanwhile, in addition to the surge in XRP\u2019s trading volume, the Ripple markets report also revealed that other major cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), saw considerable increases in their trading volumes.<\/p>\n

BTC volumes rose by 88% quarter-on-quarter (QoQ), while ETH recorded a 140% increase over the same period. These trends indicate a broader recovery and bullish sentiment across the crypto market during the quarter.<\/p>\n

XRP\u2019s Market Performance And Future Outlook<\/h2>\n

Despite the recent surge in trading volume, XRP\u2019s market price has shown varying trends. In the last quarter of 2023, the altcoin traded above $0.60, but as of the latest price action, it hovers just above $0.5, indicating a decline.<\/p>\n

Although there has been a 3.7% increase in the past week and a 2.2% rise in the past day, the asset is currently trading around $0.52<\/a>.<\/p>\n

Nevertheless, the community and analysts remain optimistic<\/a> about its future potential. Crypto analyst Jaydee recently pointed out a historical pattern suggesting an imminent parabolic move for XRP<\/a>. According to Jaydee, the altcoin is currently testing a 10-year trendline, similar to previous instances that led to significant price increases.<\/p>\n

#XRP<\/a> \u2013 Last two times we tested the 10-year trendline, $XRP<\/a> 39x \u2013 650x in price w\/in a year! We are now testing multi-year trendline!<\/p>\n

Can we bounce off trendline to finally break structure?! Do NOT \u201cKNOW WHAT YOU HOLD\u201d, we taking \u201ccalculated profits!\u201d<\/p>\n

RT\/Like for updates!\u2026 pic.twitter.com\/flIQcDh4Ls<\/a><\/p>\n

\u2014 JD (@jaydee_757) February 3, 2024<\/a><\/p>\n

Additionally, Crypto Patel, another analyst, shared his forecast, emphasizing XRP\u2019s potential to shine and go parabolic, drawing parallels to past market trends<\/a>.<\/p>\n

Patel also referred to the legal developments involving Ripple and the US Securities and Exchange Commission (SEC), suggesting that the recent legal victory for Ripple could open doors for XRP\u2019s breakout in the next bull run.<\/p>\n

The analyst drew attention to a specific chart pattern from 2017 that preceded a massive rally for altcoin. If this trend repeats, Patel posits, the asset could witness an \u2018extraordinary\u2019 surge, potentially reaching over $10.<\/p>\n

Is This Finally XRP\u2019s Time To SHINE, WIll hit $10 ?<\/p>\n

Last bull #XRP<\/a> seriously underperformed while stuck fighting the #SEC<\/a>
\n BTC hit new highs while XRP failed to pass 2017\u2019s $3.30 ATH<\/p>\n

But with the SEC case now won \u2013 the floodgates may finally BE OPEN!
\n Similar\u2026 pic.twitter.com\/joWLvBnadp<\/a><\/p>\n

\u2014 Crypto Patel (@CryptoPatel) February 7, 2024<\/a><\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

A recent report released by Ripple in its Q4 2023 XRP Markets Report unveiled<\/a> that XRP experienced a substantial increase in daily trading volume, hitting roughly $600 million this quarter. According to the report, this surge represented a 75-100% growth compared to the lower trading volumes observed in Q3.<\/p>\n

Notably, the Ripple report suggests a rejuvenation in investor interest and market activity for the altcoin, marking a notable shift from the previous quarter\u2019s performance.<\/p>\n

Ripple\u2019s XRP Holdings And Other Crypto Volume In Q4 2023<\/h2>\n

Ripple\u2019s Q4 report also provided insights into the company\u2019s XRP holdings. As of September 30, 2023, Ripple\u2019s total XRP holdings were more than 5.25 billion, stored in its wallets, plus another 41.3 billion XRP secured in on-ledger escrow.<\/p>\n

However, by the close of December 2023, Ripple\u2019s wallet holdings had slightly reduced to about 5.08 billion of this token, and the XRP in on-ledger escrow had also decreased to approximately 40.7 billion.<\/p>\n

According to the report, Ripple\u2019s access<\/a> to the escrowed XRP is restricted until scheduled monthly releases occur, a mechanism that ensures the controlled release of tokens into the market.<\/p>\n

Meanwhile, in addition to the surge in XRP\u2019s trading volume, the Ripple markets report also revealed that other major cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), saw considerable increases in their trading volumes.<\/p>\n

BTC volumes rose by 88% quarter-on-quarter (QoQ), while ETH recorded a 140% increase over the same period. These trends indicate a broader recovery and bullish sentiment across the crypto market during the quarter.<\/p>\n

XRP\u2019s Market Performance And Future Outlook<\/h2>\n

Despite the recent surge in trading volume, XRP\u2019s market price has shown varying trends. In the last quarter of 2023, the altcoin traded above $0.60, but as of the latest price action, it hovers just above $0.5, indicating a decline.<\/p>\n

Although there has been a 3.7% increase in the past week and a 2.2% rise in the past day, the asset is currently trading around $0.52<\/a>.<\/p>\n

Nevertheless, the community and analysts remain optimistic<\/a> about its future potential. Crypto analyst Jaydee recently pointed out a historical pattern suggesting an imminent parabolic move for XRP<\/a>. According to Jaydee, the altcoin is currently testing a 10-year trendline, similar to previous instances that led to significant price increases.<\/p>\n

#XRP<\/a> \u2013 Last two times we tested the 10-year trendline, $XRP<\/a> 39x \u2013 650x in price w\/in a year! We are now testing multi-year trendline!<\/p>\n

Can we bounce off trendline to finally break structure?! Do NOT \u201cKNOW WHAT YOU HOLD\u201d, we taking \u201ccalculated profits!\u201d<\/p>\n

RT\/Like for updates!\u2026 pic.twitter.com\/flIQcDh4Ls<\/a><\/p>\n

\u2014 JD (@jaydee_757) February 3, 2024<\/a><\/p>\n

Additionally, Crypto Patel, another analyst, shared his forecast, emphasizing XRP\u2019s potential to shine and go parabolic, drawing parallels to past market trends<\/a>.<\/p>\n

Patel also referred to the legal developments involving Ripple and the US Securities and Exchange Commission (SEC), suggesting that the recent legal victory for Ripple could open doors for XRP\u2019s breakout in the next bull run.<\/p>\n

The analyst drew attention to a specific chart pattern from 2017 that preceded a massive rally for altcoin. If this trend repeats, Patel posits, the asset could witness an \u2018extraordinary\u2019 surge, potentially reaching over $10.<\/p>\n

Is This Finally XRP\u2019s Time To SHINE, WIll hit $10 ?<\/p>\n

Last bull #XRP<\/a> seriously underperformed while stuck fighting the #SEC<\/a>
\n BTC hit new highs while XRP failed to pass 2017\u2019s $3.30 ATH<\/p>\n

But with the SEC case now won \u2013 the floodgates may finally BE OPEN!
\n Similar\u2026 pic.twitter.com\/joWLvBnadp<\/a><\/p>\n

\u2014 Crypto Patel (@CryptoPatel) February 7, 2024<\/a><\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35969","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35969","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35969"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35969\/revisions"}],"predecessor-version":[{"id":35977,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35969\/revisions\/35977"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35969"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}