In a festive turn of events, XRP, the sixth-largest cryptocurrency by market capitalization, has witnessed a staggering 74% surge in trading volume within the past 24 hours, reaching an impressive $1.6 billion, as reported by CoinMarketCap.
This surge in trading activity coincided with a notable 5.5% upward spike in the XRP price today. The popular digital asset reached a two-week high, hitting $0.646 per token. This substantial price movement has placed XRP on the brink of achieving its most impressive December result in six years, according to U.Today.
XRPL witnesses activity boom
However, the real story unfolds on XRP Ledger, where the token plays a pivotal role. Data from XRP Scan reveals an unprecedented surge in activity, with the number of payments between unique XRPL accounts soaring to 507,134 within the past 24 hours. This figure marks the highest since mid-August, signaling a remarkable uptick in network engagement.
Equally noteworthy is the surge in newly activated accounts within a single day — 4,023 in total, a staggering 224% increase from the preceding day. Historically, heightened activity within a token's network tends to foreshadow an impending price surge, and XRP seems to be following suit.
As the crypto market experiences positive momentum, XRP's Christmas Day achievement reinforces its potential for a stellar December, making it the best in years.
The confluence of increased trading volume a notable price surge, and unprecedented activity on XRP Ledger positions the digital asset favorably as it navigates the final days of the year.