XRP Responsible for 50% of Crypto Transaction Volume Over Last 24 Hours

Michael LaVere
  • XRP is responsible for more than 50 percent of the total crypto transaction volume over the last 24 hours.
  • Ethereum, Bitcoin and Bitcoin SV rounded out the top positions. 

XRP transactions have continued to climb, reaching a new all-time high of 1.70 million. 

According to data compiled by BitInfoCharts, XRP transactions accounted for more than 50% of total crypto volume over the last 24 hours. Ethereum ranked second in total transactions, with Bitcoin and Bitcoin SV tying for third.

XRP daily transaction volume reached a similar peak in late December 2017, during the bull run which took the coin’s price near $4.

xrp transaction volumeXRP transaction volume continues to climb | Source: BitInfoCharts

XRP-based sends have been on the rise since early September when the coin came under fire for what many investors thought was turning into a detrimental relationship with RIpple.  

While Ripple has made efforts to distance itself from the cryptoasset in an effort to promote decentralization, the company still sells regular batches of XRP to businesses and institutional clients from the funds locked in escrow. Some XRP investors believe this will have a depressing effect on the price of XRP over time, as new coins continue to enter the circulating supply.

However, Ripple has remained committed to growing XRP through partnerships and improving the entire landscape of crypto. Earlier in the month, the San Francisco-based accompany announced it would be joining the Blockchain Association to work with lobbyists in supporting the industry.

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