Ripple’s XRP seems to be seeing a lot of good days lately. eToro, a social trading, and multi-asset brokerage firm recently announced that the cryptocurrency recorded the highest trading volume by unique open trade for January 2019.
According to the report, XRP had the highest number of unique open trade at 29,991 in January 2019 among cryptocurrency assets. Ethereum followed with 26,773 unique open trades while Bitcoin came third with 25,148 unique open trades.
This is in line with the XRP trend which shows higher adoption for payment by many clients that are into remittance services such as banks and other financial institutions. This has obviously made XRP highly sort after and so it can easily record the highest trading volume.
Despite XRP’s popularity though, the report indicates that Oil and Gold had the highest trading volume among all the assets with trade volumes of 35,503 and 32,484 while Apple and Nasdaq had 31,767, and NSDQ100 31,683 respectively.
Part of the report said this about XRP gains:
“While there was no clear trend in the crypto market over the past 24 hours, some cryptos were seen higher, including XRP. The crypto, currently ranked 3rd overall by market cap, led the top 10 by registering gains of around 5% (at the time of writing). Despite these recent gains, XRP has not yet erased the losses suffered over the weekend, as it is still down by more than 3% for the week”.
When it comes to crypto assets, XRP is a major player and may be seeing higher trading volume in the February report. This is simply due to the wide adoption it enjoys as liquidity for timely cross-border settlements.
It is no wonder that some members of the cryptocurrency community think the asset should be worth a lot more than its current price and its market capitalization should be much higher especially on Coin Market Cap. Ripple still has so much coming and this will definitely tell on XRP in the near future but will it drastically change its price the way some people think it should?