Report: XRP global trading volume soared a whopping 299% in the fourth quarter of 2020 to $148.15 billion
According to the latest report from Ripple, XRP’s global transaction volume soared 299% in Q4 2020 to $ 148.15 billion. This is quite an impressive figure after XRP had a long slide following news that the SEC was suing Ripple for selling unregistered securities. At press time, XRP is trading around $ 0.4271, recording a gain of over 52% over the past seven days.
The global XRP volume exploded in Q4 despite a slew of exchanges delisting the token or suspending its trading
Q4 was arguably the most chaotic quarter for Ripple and XRP. After skyrocketing to a multi-year high of $ 0.77 in late November on top of the Flare Networks Spark’s Spark airdrop, XRP then fell more than 78% in a month because of an SEC complaint.
XRP surged in early February, returning to a November high and then falling by more than half in value as a result of a manipulated pump and sell-off. Not surprisingly, the volatility of the token increased sharply by 174 in Q4.
XRP only lost 12.49% of its volume due to a series of transaction restrictions.
Ripple’s XRP sales actually surged 122% in Q4 to $ 111.12 million, representing 0.05% of global transaction volume. The company stated that the sales were related to the development of an On-Demand Liquidity (ODL) product.
Can XRP grow faster than most of the other popular coins?
Yesterday, the XRP price tried to break through the resistance of $0.4, but the growth was not supported by large volumes. After the daily maximum at $0.42, the pair again rolled back below the $0.4.
From the bigger perspective, XRP has the potential to get to $0.65. Such a move is supported by the low selling trading volume. If XRP keeps trading above $0.4, there are chances to get to the resistance by mid-Mach 2021.
XRP is trading at $0.4271 at press time.
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