The XRP trading volume on Coinbase increased, and an amazing increase of 9640 % in only 24 hours. According to Coinglass DataThe XRP trading volume on the stock exchange increased to $ 438 million, as traders benefited from the recent price movements.
Trading volumes often indicate the position of traders. In the face of the growing market fluctuations, traders may aim to profit. Traders may also enter or get out of the recent market developments.
According to the Fox business correspondent Eleanor TeretXRP deposit receipts may be available soon to buy.
XRP deposit receipts, such as regular US deposit receipts that represent foreign companies, will indicate the basic XRP ownership without asking investors to purchase the original directly through the encrypted currency exchange.
These advantages are compared to the ETF, which allows investors to obtain exposure to origin without the need to buy them directly through a foreign exchange or exchange of an encrypted currency. In short, it is another way to bridge the gap between Tradfi and Defi. XRP DRS will be kept by Anchorage, a federal rented bank organized by USOCC.
On Thursday, CBOE presented several 19B-4 files to insert and trading ETF XRP proposed from BitWise, 21shares, Canary Capital and Wisdomtree.
XRP work rates
The total cryptocurrency market remained basically on Saturday after a brief gathering on Friday after the issuance of job data in January. Then the encryption market wiped its gains, as the investors charged the mixed American job data that showed that unemployment was less, but the growth of jobs slowed in the largest economy in the world.
Related
XRP has decreased by 4.49 % in the past 24 hours to $ 2.42, after reaching levels above $ 2.54 in Friday session, and continues to trade below the daily SMA level at $ 2.62. XRP, the fourth largest encrypted currency depending on the maximum market, remains a 19 % decrease per week.
If the price recovered, the first task of the bulls will be the main SMA 50 level at $ 2.62, which was previously kept as support but has since become resistance, in support again. If this is achieved, the XRP will aim to $ 3 again.
Another possible scenario is that XRP remains in uniformity among its daily mobile averages 50 and 200 at $ 2.62 and $ 1.32, respectively. On the other hand, XRP may demand support near $ 2 if the price continues to decrease.
