XRP has become the most traded asset on the Coinbase platform, significantly surpassing Bitcoin in trading volume, demonstrating a growing interest among American investors.
Increase in XRP Interest in the U.S.
In the past 24 hours, XRP/USD accounted for 25% of Coinbase’s total trading volume of $6.86 billion, compared to BTC/USD’s 20%, according to CoinGecko data. This indicates an increased interest in XRP among U.S. investors, considering that on other exchanges like Binance, Bitcoin remains the leading asset.
Impact of Meeting with Donald Trump
Interest in XRP has been boosted following a meeting between Ripple CEO Brad Garlinghouse and U.S. President-elect Donald Trump. The meeting reportedly aimed to discuss the inclusion of alternative cryptocurrencies like XRP in a potential U.S. digital asset reserve. Garlinghouse confirmed the meeting with a tweet: 'Had a great dinner last night with @realDonaldTrump & @s_alderoty. Great start to 2025!'
XRP's Prospects and Price Impact
Ongoing speculation on the approval of a spot XRP ETF has spurred interest in the asset. Companies like Bitwise and WisdomTree are seeking SEC approval for an ETF. Market data from Polymarket shows that 67% of bettors expect an XRP-backed ETF to be launched this year. Since November, XRP's price has surged by over 600%, peaking at $3.33, its highest level since 2017. This week alone, it has increased by 33%, driven by high futures open interest and more big holders, as indicated by CoinMetrics data showing the number of addresses holding at least $100,000 in XRP increased to 108,540. Meanwhile, Ripple is still dealing with legal challenges from the SEC, which has filed an appeal arguing that sales of XRP to regular investors were not unregistered securities offerings.
The ongoing growth in interest in XRP despite regulatory challenges and the potential approval of an ETF makes it a key asset to watch in 2025. Despite legal issues, such as the SEC's appeal, XRP shows significant market growth.
