The trading volume of XRP has collapsed by a mammoth 51.37% in the past 24 hours, according to market watchers, despite strong sentiments of an impending altcoin season in February. Along with XRP, four major coins- Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and BNB have also experienced a downfall in their trading volume, despite an overall positive, optimistic buzz in the market.
According to Coinglass, since the start of 2025, XRP’s trading volume has seen various fluctuations. On 28th January 2025, XRP’s trading volume surged more than 400% to around $19.97 billion, but after that, it has seen multiple downsizing.
According to the latest data of 31st January, XRP’s trading volume shows a major decline as its 24-hour trading volume has declined by 51.37% to approximately $4.52 billion.
XRP is not alone in this slump as SOL follows it with a 44.54% drop in trading volume. People’s favorite DOGE has lost 40%, and crypto giants BTC and ETH have 21.59% and 23.97%, respectively.
However, the point here to note is that despite the major fluctuation in trading volume, XRP’s price remains stable. Currently, XRP is priced at $3.09, which is around a 0.70% decline in the 24 hours.
If we talk about the shifts in the trading volume, it is because of various factors that include fluctuations in market sentiments, profit-taking moves by investors, or a news event impacting trading behavior. The initial surge in the trading volume can be because of increased investor interest, while this recent decline could be because of a cooling-off period or market corrections.
To conclude, before investing, be cautious about these various developments because sometimes the fluctuations in trading volume are directly proportional to the price of the token.
