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Global XRP Volume Skyrocketed 98 Percent in Q2: Report

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Thu, 07/29/2021 - 19:10
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Alex Dovbnya
XRP’s global trading volume and volatility exploded in the second quarter
Global XRP Volume Skyrocketed 98 Percent in Q2: Report
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According to Ripple’s Q2 report, XRP, the sixth-largest cryptocurrency by market cap, saw its trading volume soaring to $4.4 billion in the second quarter of the year, logging a 98 percent quarter-over-quarter increase.

Is it worth noting that XRP also had four days with the highest trading volume throughout its entire history.

XRP
Image by ripple.com

The Ripple-affiliated cryptocurrency started Q2 with a bang. During the first two weeks of April, the XRP price skyrocketed by an eye-popping 245 percent and reached a multi-year peak of $1.96.  

The rally, however, didn’t have legs. XRP crashed 30 percent from its local top within a week and later succumbed to the broader crypto market correction in mid-May. Still, the cryptocurrency was up roughly 15 percent in Q2.

Due to these topsy-turvy moves, XRP’s volatility spiked to 11.5 percent, which is much higher than that of Bitcoin and Ethereum.

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Ripple's XRP sales grew 5 percent 

Ripple—which was taken to court by the U.S. Securities and Exchange Commission for allegedly violating the federal securities laws with its XRP sales—sold another $157.92 worth of the token in the second quarter.

Its sales grew 5 percent from $150.34 million the San Francisco-based company reported in the first quarter.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.