Ripple (XRP) Hits Massive Milestone in December

Over the last few days, the price of XRP went through considerable turbulence, going from $2.60 to less than $2 at one point. Since December 21, the cryptocurrency has managed to consolidate above $2.20, where it is currently trading.

While many market pundits are debating whether the XRP bull run is over or not, the volatility seems to have led to a massive increase in trading volume, especially on Binance.

According to a CryptoQuant analyst, XRP has become the most traded altcoin so far and the leading exchange in December.

Source: CryptoQuant

To be more precise, XRP is the most traded altcoin on the Binance Futures platform, and not on the spot market. It has achieved a trading volume of around $116 billion, with December not yet over.

“It’s important to track the most traded coins on Binance as they should be your primary focus when trading altcoins. In the past couple of days, both Bitcoin and altcoins have seen big drops. XRP seems to be one that could recover quickly.”

On December 21, popular trader and market analyst Ali Martinez told his followers that the current level of $2.20 is critical for the future price of XRP. He maintained that if XRP can “stay above $2.20, it could consolidate for a while before making another shot at the $2.70 resistance.” On the other hand, however, the trader said that if this support is broken, a “descent to $1.96 becomes imminent.”

Meanwhile, XRP is trading up 3% on the day, but remains down nearly 11% over the past week with a total 24-hour trading volume of around $7 billion across all exchanges.

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