XRP experienced a 203% hourly volume spike on Kraken as traders reacted to ETF optimism; 24-hour XRP volume topped $6.67 billion and the price rose to $3.14, driven by heightened U.S. spot interest and anticipated REX-Osprey XRP ETF approvals.
203% hourly volume spike on Kraken triggered rapid short-term price moves
24h XRP volume reached $6.67 billion, a 31% increase per CoinMarketCap and strong exchange flow per CoinGlass
Price cleared the daily SMA 50 at $3.01, with resistance near $3.38 and $3.66; next target $4 if momentum continues
Meta description: XRP volume spike fuels price surge; XRP volume $6.67B and price $3.14. Read the latest on trading drivers and technical levels; follow COINOTAG for updates.
What caused the XRP volume spike on Kraken?
XRP volume spike on Kraken was driven by concentrated U.S. spot trading activity and ETF-related optimism: CoinGlass recorded a 203% hourly volume surge as traders entered positions ahead of anticipated REX-Osprey XRP ETF approvals. This influx raised 24-hour exchange flows and pushed short-term price momentum.
How did ETF optimism affect XRP trading?
Growing expectations around spot ETF approvals, including REX-Osprey products that passed a 75-day SEC review, increased retail and institutional interest in XRP. Market participants cited these developments as a catalyst for elevated buy-side flow, which translated into outsized volume on major U.S. venues.
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According to CoinGlass data, XRP suddenly saw a 203% hourly volume spike on the United States-based major cryptocurrency exchange Kraken as traders flocked in to profit from the recent market volatility.
The surge comes as spot U.S. traders continue to show interest in XRP, the third largest cryptocurrency by market capitalization amid ETF optimism. REX-Osprey ETFs have passed the SEC’s 75-day review and are expected to launch soon, with products including an XRP ETF. Market actors referenced public filings and regulatory updates as background for increased allocation to XRP.
In the last 24 hours, XRP has attracted $73,588,344 in trading volume on Kraken, ranking among the top traded assets on the crypto exchange. CoinGlass highlighted concentrated order flow on Kraken specifically, while aggregate market data showed elevated liquidity across venues.
XRP has recorded $6.67 billion in trading volume in the last 24 hours, marking a 31% increase, according to CoinMarketCap data. The crypto market has seen upside action in the last 24 hours with the majority of digital assets posting significant gains, including XRP.
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XRP continued its rally in the early Saturday trading session, up 3% in the last 24 hours to $3.14. The cryptocurrency is on course to mark its fourth day of rise since Sept. 9, having broadly risen since the Sept. 1 low of $2.69.
The rise has surpassed the daily SMA 50 at $3.01, which had capped XRP’s price since Aug. 19. With this crucial barrier removed and a high of $3.18 reached on Saturday, the next resistance levels are at $3.38 and $3.66. A decisive breach above these key levels could open a run toward $4. Downside risk would target a reclaim of the daily SMA 50 near $3 as support.
Concentrated hourly spikes on Kraken imply short-term position accumulation and quick profit-taking. Broad 24-hour volume expansion indicates more sustained interest, not just isolated algorithmic activity. Traders should monitor exchange flow, order-book depth, and funding rates to gauge durability of the move.
Yes. CoinGlass recorded a 203% hourly surge in XRP volume specifically on Kraken, with $73,588,344 traded there in the last 24 hours, indicating concentrated U.S. exchange activity.
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