According to recent data, Coinbase holds a leading position in XRP trading, highlighting the platform's significance for traders.
Coinbase's Leading Position
Coinbase recorded a total trading volume of 1,390,594,237 XRP, capturing 49.1 percent of the market. This U.S.-based platform significantly influences XRP's price and liquidity due to its reliable reputation and regulatory standing.
Competitors: Crypto.com and Kraken
Crypto.com secured second place with a trading volume of 708,146,379 XRP, representing 25.05 percent of the market. Kraken focuses on security and compliance, handling 268,454,941 XRP, giving it a 9.5 percent share. Both platforms reliably support their users even in times of regulatory uncertainty.
Impact of Top Five Platforms on XRP Market
Together, these five platforms processed a total of 2,760,689,405 XRP, indicating the significant influence of a limited number of trading venues on XRP. Data shows that more than 97.66 percent of XRP trading against the U.S. dollar takes place on these platforms.
The support and popularity of Coinbase and other leading platforms signal important trends and trust in the crypto industry, which could define future market movements.
