According to CoinGlass data, XRP experienced a dramatic 203% hourly volume spike on major U.S. cryptocurrency exchange Kraken as traders capitalized on recent market volatility. This surge reflects continued interest from spot U.S. traders in the third-largest cryptocurrency by market capitalization, driven primarily by ETF optimism.
The REX-Osprey ETFs have successfully passed the SEC's 75-day review period and are expected to launch soon, with products including a dedicated XRP ETF. In the last 24 hours alone, XRP attracted $73,588,344 in trading volume on Kraken, ranking among the top traded assets on the exchange.
XRP's price action shows strong momentum, with the cryptocurrency trading at $3.14, up 3% in 24 hours and marking its fourth consecutive day of gains since September 9th. The asset has broadly risen from its September 1st low of $2.69. Technically, XRP has broken above the daily SMA 50 at $3.01, a level that had capped its price since August 19th.
Additional data from Coinalyze reveals XRP's open interest surged 8.6% over the past 24 hours, indicating traders are holding positions in anticipation of further rebound. With a market cap of $189.01 billion and 24-hour trading volume rising 9.17% to $6.45 billion, XRP has re-entered the top 100 global assets by market capitalization, now sitting in 98th place above companies like Arista Networks and HDFC Bank.