XRP: The Most Traded Altcoin on Binance in December 2024

user avatar

by Giorgi Kostiuk

2 years ago

In December 2024, XRP emerged as the most traded alternative cryptocurrency on the Binance exchange, despite its recent price drop.

XRP's Leading Position on Binance

In December 2024, XRP became the most traded altcoin on Binance with a trading volume exceeding $116.6 million on Binance Futures. This occurred at a time when many cryptocurrencies, including Bitcoin, have seen price declines. Despite a 25% price drop from its high on December 3, XRP remains one of the most traded cryptocurrencies on the market. XRP even briefly surpassed Bitcoin in trading volume in South Korea.

Rising Wallet Activity

One reason for XRP's strong performance is the increase in the number of people holding and using XRP. After the U.S. SEC's 2023 ruling that it is not a security, investors gained more confidence in the token, leading to a significant rise in active wallets. According to Santiment, the number of wallets holding XRP has grown significantly, with 5.75 million new wallets added over the past two years.

Conclusion

Despite recent price drops, analysts believe that XRP will recover quickly compared to other altcoins due to its resilience and growing popularity among investors. With more users adopting XRP and new opportunities in 2025, such as the U.S. ETF buzz, XRP is likely to continue performing well.

XRP continues to maintain its popularity among traders, being the most traded altcoin on Binance and showing significant growth in new users.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bybit Confirms Support for Avalanche v1150 Upgrade

Bybit has confirmed support for the Avalanche v1150 upgrade, ensuring continued compatibility for AVAX users.

user avatarTomas Novak

Bybit Launches OURAUSDT Pre-IPO Perpetual Contract

Bybit has launched OURAUSDT, a pre-IPO perpetual contract, allowing leveraged trading on Oura's implied valuation before its public listing.

user avatarKaterina Papadopoulou

Binance Expands Use of Tokenized Stocks for Margin Utility

Binance has introduced a new feature allowing users to use eligible bStocks as collateral in its MultiAssets Mode.

user avatarMaya Lundqvist

Binance Introduces 24/7 Foreign Exchange Perpetual Contracts

Binance has launched a new trading model for 24/7 trading of foreign exchange perpetual contracts, starting with a contract linked to the US dollar and Brazilian real.

user avatarLeo van der Veen

Ondo Finance Streamlines Institutional Stock Tokenization

Ondo Finance has introduced a new integration that simplifies the process of institutional stock tokenization by allowing direct contribution of existing equity inventory.

user avatarLi Weicheng

Investigation into Zondacrypto Founder’s Disappearance Intensifies

The investigation into the disappearance of Zondacrypto founder Sylwester Suszek has intensified as Polish police search a fuel depot linked to his last known whereabouts.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.