$438 Million XRP: Trading Volume Soars 9,640% on Coinbase as Ripple Sees Unprecedented Surge

XRP has witnessed an astonishing surge in trading volume on Coinbase, skyrocketing by 9,640% in just 24 hours.

According to data from CoinGlass, XRP’s trading volume on the exchange reached an eye-popping $438 million as traders rushed to capitalize on recent market movements.

This massive spike signals heightened interest in XRP amid increasing speculation over its future price trajectory. Market analysts suggest that such an unusual volume surge is often driven by a mix of institutional activity, strategic repositioning by traders, and reaction to broader macroeconomic developments.

Institutional Interest and Market Dynamics

The sudden increase in XRP’s trading volume coincides with growing institutional interest in the asset. A recent report by Fox Business correspondent Eleanor Terrett stated that depositary receipts of XRP may be sold in a few months, citing unnamed sources. Similar to American depositary receipts, this financial instrument gives investors XRP exposure without needing to purchase the asset from a cryptocurrency exchange directly.

XRP trading volume on Coinbase recently soared 9,640% to $438 million. Source: Crypto Champ via X

Anchorage, a federally chartered bank through the U.S. Office of the Comptroller of the Currency, or OCC, shall hold XRP DRs for a regulated, compliant way by which traditional investors can reach the crypto market. This would represent the bridge between TradFi and DeFi in a manner that furthers the legitimization of XRP within institutional portfolios.

XRP Price Performance Amid Market Volatility

Despite the high volume of trading, XRP’s price action remains volatile. The wider cryptocurrency market saw a steep drop after an initial rally inspired by the latest U.S. jobs data. At the time of writing, XRP changes hands at $2.42, down 4.49% in the last 24 hours. The asset had climbed as high as $2.54 but continues to fail at the key 50-day simple moving average (SMA) of $2.62.

Ripple (XRP) price has broken the $2.50 support amid bearish momentum. Source: ProfittoPath on TradingView

According to the technical analysts, if XRP manages to flip the $2.62 level back to its support, the coin could go after the mark of $3 once more. On the contrary, if XRP continues seeing selling pressure, it might seek shelter around $2 before going for an uptick.

Regulatory and Market Expansion Efforts

The XRP ecosystem has been on a tear-up not only concerning trading volume but also through the broader drives of regulatory and market expansion. Most recently, Cboe filed multiple requests to list and trade XRP ETFs from major asset managers such as Bitwise, 21Shares, Canary Capital, and WisdomTree.

The analyst expects XRP to claim the top spot on CoinMarketCap by summer, following the SEC’s approval of nine proposed XRP ETFs. Source: Kenny Nguyen via X

Additionally, Ripple’s efforts to integrate its stablecoin, RLUSD, into major financial platforms continue to advance. The company recently minted 9.1 million RLUSD tokens following new listings on platforms like Revolut and Zero Hash. With negotiations underway for further integrations, including potential listings on Binance and Coinbase, Ripple’s ecosystem expansion could have broader implications for XRP’s adoption and utility.

The Road Ahead for XRP

XRP’s explosive volume increase on Coinbase underscores the growing demand for the asset, driven by institutional interest, potential ETF approvals, and new financial products like XRP DRs. While price volatility remains a key challenge, market sentiment suggests that XRP is poised for further developments in both adoption and market performance.

Ripple (XRP) was trading at around $2.40, down 1.08% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

With institutional players increasingly engaging with XRP and regulatory clarity improving, the digital asset is positioning itself for a potentially transformative period in the months ahead. Whether this latest surge in trading volume translates into sustained bullish momentum remains to be seen, but one thing is clear—XRP is once again at the center of the crypto market’s attention. If Brad Garlinghouse’s White House connections solidify, then the news ahead is good for XRP.