XRP trading volume spikes 92% despite price drop at start of May $XRP XRPArmy XRPCommunity XRPHolders
, the XRP trading volume, which represents the number of units exchanged by traders, jumped 92%.
Oftentimes, an increase in volatility tends to lead to a spike in trading volumes, which might signal investor positioning.XRP slipped at the start of May as the broader markets became jittery following the latest First Republic Bank turmoil. At the time of writing, XRP was down 3.08% in the last 24 hours to $0.463.
In the first three months of 2023, XRP market volumes rose 46% as compared to the previous quarter, possibly due to the recovery in markets as well as large, volatile events that tend to spike volumes. Decentralized exchange volumes for XRP also rose 34% in the said time frame to $115 million, compared to Q4, 2022, per a Ripple Q1 report., Ripple unlocked 1 billion XRP worth $469.6 million from escrow on May 1. This continues Ripple's monthly XRP distribution strategy that began in December 2017.In early access, XRPL Labs launched a browser-based DEX accessing the native XRPL DEX.
The web DEX allows users globally to access the XRPL DEX securely and efficiently, bringing Xumm's applications to browsers worldwide.
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