XRP Surpasses Ethereum in Trading Revenue on Coinbase
XRP has surged ahead of Ethereum in trading revenue on Coinbase, marking a significant milestone for the asset.
This shift is driven by a combination of increased institutional interest, heightened trading activity, and growing speculation about the potential launch of a spot XRP ETF.
Recent analysis reveals that XRP now accounts for 14% of Coinbase’s trading revenue in Q4, a notable rise from previous periods.
This increase aligns with a broader market trend following the U.S. elections, which reignited interest in altcoins, especially XRP. The asset gained momentum after Ripple Labs’ partial legal victory against the SEC, leading to its re-listing on major exchanges in the U.S.
As asset managers gear up for a potential XRP ETF, the SEC’s acknowledgment of multiple filings has sparked more optimism. A 240-day review period for these applications has added fuel to speculation, driving up XRP’s trading volume.
READ MORE: Altcoins Gain Strength: Is a Market Shift Underway?
Echoing the surge seen in Ethereum after its spot ETF approval, XRP could see a similar rally if the SEC moves in its favor. Technical indicators show short-term buying signals, suggesting that XRP might continue its upward momentum.
Additionally, macroeconomic factors, like South Korea’s plan to lift its crypto trading ban in 2025, could further boost liquidity and investor interest, benefiting XRP’s market position.
XRP’s rise in trading volume and its potential ETF approval paint a bullish picture, but only time will tell if it can maintain its newfound dominance.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
