🚀💰 XRP Increases 194% in Volume as Ripple's Key Decision-Making Methods Compared to the SEC 💸💸

According to CoinGlass, derivatives trading volume on the popular cryptocurrency XRP has increased by a staggering 194% in the past 24 hours.

This increase in activity was marked by a notable increase in currency: turnover in derivatives, primarily open XRP futures, increased to $831.89 million. At the same time, the cryptocurrency spot market saw trading volume surge by 130% to an impressive $878.89 million.

This significant increase raised the total XRP turnover on centralized platforms to a remarkable $1.7 billion in just one day. Given that XRP has a market capitalization of $28 billion, the cryptocurrency's trading volume is estimated to be approximately 6% of market capitalization, implying significant but not excessive trading activity.

Of particular significance is the timing of the spike in XRP trading activity, which occurred on May 13, a key date in the ongoing legal battle between Ripple and the SEC.