XRP’s Rally Faces a Reality Check as Spot Trading Activity Dries Up

XRP spot trading activity has plunged sharply in recent weeks, even as futures trading takes on a larger role. Data compiled by CryptoQuant shows that combined spot volume across centralized exchanges fell by $1.943 billion between August 26 and October 11. Binance accounted for $429 million of that decline, after its seven-day average spot volume dropped from $597 million to $168 million. Other centralized exchanges saw a much larger fall. Their combined volume fell from $2 billion to $485.8 million, a reduction of $1.514 billion. This decline was 3.53 times greater than the drop recorded on Binance.