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Up 13%: XRP Jumps By Double Digits for Second Time This Week
XRP is a standout performer today in the cryptocurrency market as its price boasts double-digit percent gains for the second time this week.
By Sam Ouimet
Updated Sep 13, 2021, 8:24 a.m. Published Sep 20, 2018, 3:24 p.m.
XRP's price is boasting double-digit percentage growth today for the second time this week as the broader market picks up the bid.
At press time, the world's third-largest cryptocurrency by market capitalization is trading across exchanges at an average price of $0.37 – a six-week high and 13.60 percent gain from today's opening price of $0.33, according to CoinDesk's XRP Price Index (XPI).
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XRP's standout 24-hour appreciation makes it the best performer out of the world's 50 largest cryptocurrencies by market capitalization, data from CoinMarketCap reveals.
The bullish price development for XRP follows multiple positive news events regarding distributed ledger startup Ripple, the founders of which created XRP. Most recently, US banking giant PNC became the latest to adopt Ripple's xCurrent product to handle cross-border payments, though xCurrent itself doesn't utilize XRP.
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XRP is still a far cry from its all-time high, currently reflecting an 89 percent depreciation from the $3.48 price point set back in January (XPI). That said, the recent price action has surpassed multiple technical hurdles which has potentially opened the door for more growth ahead.
The broader market is also flashing green today with all of the top 10 cryptocurrencies by market capitalization reporting positive price developments. Notably, and are both up more than 4 percent on a 24-hour basis.
Further, the total market capitalization of all cryptocurrencies is currently printing a value north of $203 billion, up $10 billion from its low point yesterday.
Disclosure: The author holds BTC, AST, REQ, OMG, FUEL, 1st and AMP at the time of writing.
XRP Image via Shutterstock
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
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Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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