XRP has seen a notable increase in trading activity, with volumes rising by 30% over the past day, reaching $794 million in the spot market, according to <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener">CoinMarketCap</a>. CoinGlass reports that XRP derivatives trading, particularly perpetual futures, also grew by 11.29%, totaling $608.21 million. Combined, XRP's total trading volume over the past 24 hours is estimated at $1.4 billion.
<h2>Approaching a Key Market Capitalization Milestone</h2>
This surge in trading volume coincides with XRP approaching a significant market capitalization milestone of $30 billion. Currently, XRP's market cap stands at $29.32 billion, just 2.26% short of this key threshold. Although XRP has briefly surpassed this mark in the past, it has struggled to maintain its position above it.
<h2>Increased Market Interest</h2>
The growth in trading volume indicates heightened interest from market participants. Despite this, the ratio of market capitalization to trading volume remains at a healthy 4.66%, suggesting balanced market activity. The increasing trading volume and interest suggest that <a href="https://www.cryptoknowmics.com/news/xrp-poised-for-20-30-surge-following-key-trendline-breakout/" target="_blank" rel="noopener">XRP</a> is drawing attention from both new and existing investors.
<h2>Potential for Ranking Among the Largest Entities</h2>
If XRP's market capitalization surpasses $30 billion and holds, it could place the token among the top 600 largest entities globally. This potential achievement highlights the growing significance and adoption of XRP in the cryptocurrency market.
<h2>Future Prospects for XRP</h2>
The coming days will reveal whether XRP can establish itself firmly above the $30 billion mark. With renewed interest and significant trading volumes, the cryptocurrency community is closely watching to see if XRP will solidify its position and continue its upward trajectory.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

XRP Trading Volume Surges as Market Cap Nears $30 Billion

XRP trading volume hits $1.4B, nearing $30B market cap. Increased interest in XRP drives trading activity across spot and derivatives markets.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

XRP Trading Volume Surges as Market Cap Nears $30 Billion

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