XRP, the third-largest cryptocurrency by market capitalization, has overtaken Bitcoin (BTC) as the most-traded digital asset on Coinbase. This shift signals evolving trading preferences among US investors on the Nasdaq-listed exchange, widely regarded as a benchmark for domestic crypto demand.
Key Highlights
- Price Surge: XRP has rallied over 600% since November 2024, reaching $3.40.
- Trading Volume: XRP/USD pairs now account for 23.8% of Coinbase’s 24-hour trading volume ($1.65 billion), surpassing BTC/USD (19.73%) and ETH/USD.
- Market Context: Bitcoin remains dominant on Binance, but XRP’s lead on Coinbase underscores its growing US adoption.
XRP’s Price Action and Technical Outlook
XRP faces resistance at $3.35, entering a bearish correction phase. Analysts are closely watching the $3.20250 support level on intraday charts for directional cues.
Key Levels to Watch:
- Support: $3.20250 (critical for bullish reversal).
- Resistance: $3.35 (breakout could reignite upward momentum).
Drivers of XRP’s Demand Surge
- US Market Recovery: Rising trading volumes align with renewed retail and institutional interest.
- ETF Speculation: Rumors of a potential spot XRP ETF approval have fueled bullish sentiment.
- Political Influence: Ripple CEO Brad Garlinghouse’s meeting with President-elect Donald Trump sparked market optimism.
👉 Explore XRP’s latest price trends
Regulatory and Industry Developments
- SEC Appeal: On January 15, 2025, the SEC challenged a court ruling that deemed XRP sales to retail investors non-securities. The outcome could impact XRP’s regulatory clarity.
- Philanthropy: Ripple donated $100,000 in XRP to wildfire relief efforts in California, matched by entrepreneur Jared Isaacman.
- Global Adoption: Japan’s banks will fully integrate Ripple’s XRP Ledger by 2025 to streamline cross-border payments.
FAQ Section
Why is XRP outperforming Bitcoin on Coinbase?
XRP’s surge reflects heightened US demand, ETF speculation, and strategic partnerships like Ripple’s DeFi collaboration with Chainlink.
What’s next for XRP’s price?
Traders are eyeing the $3.20 support level. A bounce could signal renewed bullish momentum, while a breakdown may extend the correction.
How does the SEC appeal affect XRP?
The appeal introduces regulatory uncertainty, but Ripple’s ongoing global expansion mitigates potential downside risks.
👉 Stay updated on XRP developments
Conclusion
XRP’s ascent to the top of Coinbase’s trading charts underscores its growing relevance in the US market. With technical, regulatory, and fundamental factors in play, investors should monitor key support levels and broader market trends for trading opportunities.