XRP has become the most traded alternative cryptocurrency on Binance this December, achieving significant trading volume on the futures market. The article explores current price trends and recovery prospects.
XRP Trading Analysis in December
According to CryptoQuant analyst JA Maartunn, XRP has emerged as the most traded altcoin on the Binance exchange this December, with a trading volume on the futures market surpassing $116.6 million.
Price Drops and Recovery Forecast
In recent days, both Bitcoin and altcoins have experienced significant price drops. However, the CryptoQuant analyst is convinced that the XRP token will be able to recover relatively quickly. Earlier today, the price of XRP dropped to an intraday low of $2.13, underperforming other major cryptocurrencies by more than 4%.
Open Interest and Market Impact
CoinGlass data shows that XRP's open interest currently stands at $1.90 billion, with Binance accounting for nearly half of this amount ($812 million).
Despite current price fluctuations, XRP continues to attract significant attention from traders and analysts due to its high liquidity and trading volumes on Binance.
