Vincent Van Code, a software engineer and data analyst, has published a detailed analysis of trading activity for the XRP/USDT pair on Binance. His post includes charts illustrating trade categorization and volume distribution by price point.
Dominance of Small Trade Volumes
According to the analysis, most trades fall into the 'small' category, ranging from 1 to 10 XRP. This category recorded approximately 1.68 million trades and accounted for 5.34 million XRP in total volume, translating to about $11.17 million in notional value.
In contrast, significantly fewer trades occurred in the 'tiny', 'medium', 'large', and 'whale' categories, with large trades (100–1000 XRP) and whale trades (>1000 XRP) representing far more significant portions of total XRP volume despite their relatively lower trade counts. Van Code pointed out that the dominance of small trades is a clear indicator of automated trading activity. 'As always, the majority of the trade volumes are small trades, indicating substantial bot activity,' he wrote.
Volume Distribution Across Price Levels
The second chart focuses on price distribution, showing how XRP volume was distributed across various price points throughout the trading day. The histogram reveals key clusters of trading activity around the $2.06, $2.10, and $2.14 price levels.
These areas reflect concentrated buy and sell actions and are viewed by Van Code as indicators of support and resistance levels. 'Below 2.04 there is little trading, and above 2.14 not much,' he noted, suggesting that the active trading range currently lies between these two thresholds.
Market Transparency Beyond Standard Interfaces
Van Code emphasized the value of this type of data visualization, which is typically inaccessible through standard Binance interfaces. By extracting and plotting the pricing histogram, he allows traders and enthusiasts to gain a more granular understanding of where meaningful activity occurs, beyond what typical candlestick or order book views might suggest.
Van Code closed his thread with a promise to continue delivering this form of analysis regularly, pledging to keep it freely available for the community. He aims to provide a clearer look into XRP’s trading behavior for those interested in navigating an increasingly algorithm-driven exchange environment.
