Ripple’s XRP sees explosive 1,151% trading volume spike in November

[rakitzogi]

Ripple’s XRP sees explosive 1,151% trading volume spike in November

XRP saw a 1,151% surge in trading volume on eToro as its price nearly tripled last month.

XRP saw a month-on-month 1,151% surge in trading activity in November on the eToro investment trading platform, according to the company’s latest report. This comes as the XRP price rallied to $0.92 on Coinbase at its monthly peak and closing the month with a 283% gain at around $0.61.

Simon Peters, a market analyst at eToro, explained that XRP’s increase in month-on-month trading activity is entirely logical. He emphasized that trading volume typically accompanies large price moves.

In fact, over the past month, the Google search term “XRP” surged to its highest levels in three years, suggesting that retail traders were returning. The most likely reasons for this include XRP breaking out of a multiyear downtrend and the perceived “cheaper” value compared to Bitcoin in the eyes of the public.

More:here