XRP Outpaces Bitcoin in Trading Volume on Coinbase Amid Rising U.S. Investor Demand

XRP Overtakes Bitcoin in U.S. Exchange Trading Volume Amid Growing Investor Interest

XRP has surged to become the most traded cryptocurrency on Coinbase, surpassing Bitcoin (BTC) for the first time, signaling a shift in U.S. investor preferences. Bitcoin remains the most popular digital asset on Binance, the world’s largest exchange by trading volume, although it remains inaccessible to U.S. investors.

This shift in trading volume aligns with an uptick in interest for XRP, which is closely linked to the Ripple payment network. This change was anticipated by the Coinbase premium indicator, which highlighted an increasing demand for XRP.

XRP’s impressive rise followed Donald Trump’s victory in November, with Ripple CEO Brad Garlinghouse’s meeting with the president-elect further fueling optimism. Market speculation around the potential approval of a U.S. spot XRP exchange-traded fund (ETF) has further supported the cryptocurrency’s price movement.

Currently, the XRP/USD trading pair represents 25% of Coinbase’s 24-hour trading volume of $6.86 billion. Bitcoin’s BTC/USD pair holds the second spot with 20%, while Ethereum (ETH) ranks third. On Binance, XRP continues to hold its position as the second-most traded cryptocurrency.

Since November, XRP has surged over 600%, reaching its highest price since 2017 at $3.33. The token has seen a third of that rise just this week, according to CoinDesk and TradingView data. This rally is underpinned by a surge in futures open interest and a rise in the number of large holders. Data from TradingView and CoinMetrics show that the number of addresses holding at least $100,000 worth of XRP has climbed to 108,540.