XRP trading volume on Coinbase saw a dramatic increase of 29,000% over 24 hours, influenced by ETF speculations and upcoming regulatory decisions.
Dramatic XRP Trading Volume Spike
XRP trading volume reached $246.20 million on Coinbase, making it one of the most liquid assets worldwide. According to Edward Farina, CEO of Alpha Lions Academy, the trading volume initially climbed by 12,495.31%, followed by an updated figure of 29,140.38%. Coinbase temporarily surpassed exchanges like Bybit, OKX, and Kraken in XRP volume, with Binance remaining the only exchange with higher volume.
Anticipation Around ETFs in Canada and the U.S.
This surge in trading activity coincides with growing interest in XRP exchange-traded funds. Purpose Investments is set to launch Canada’s first spot XRP ETF on June 18, 2025. Additionally, the SEC's decision regarding Franklin Templeton's ETF is awaited today, potentially catalyzing significant market movements.
Conclusion
As ETF announcements loom in both Canada and the U.S., XRP trading is experiencing notable acceleration. Analysts believe current trading volumes are linked to trader positioning ahead of critical regulatory decisions.
XRP trading is accelerating amidst critical expectations from the SEC and upcoming ETF announcements, which are likely to impact the cryptocurrency market significantly.
