XRP's Comeback on US Exchanges
I have really noticed a huge shift in how XRP is being traded on US exchanges lately. Major XRP market participants seem to be able to trade big quantities more easily on US-based exchanges like Coinbase and Kraken.
Allow me to break this down for you.
United States exchanges now have approximately 30% greater liquidity for XRP than offshore exchanges, such as Binance and OKX. That means, if you want to buy or sell a lot of XRP without moving the price that much, you'll be better served using a US exchange.
Why this matters:
Well, it's really great news for anyone trading huge amounts of XRP. We call them "whales" in crypto-speak. Now they can move big sums without worrying about sudden price changes. It's like trying to pour a bucket of water into a lake versus a small pond. The bigger the body of water, the less it ripples.
I believe that this added liquidity results from the changing legal scene. Although only partially victorious in a court battle against the Securities and Exchange Commission last year, this has eased the nerves of US traders and exchanges when dealing with XRP.
Numbers also back that up. Since July of last year, large XRP trades have been going up on US exchanges by 53%. That's not poor growth in less than a year. However, this is not merely about liquidity. More people are trading XRP on US exchanges now. XRP trades on US exchanges make up roughly 14% of all XRP trades worldwide, which is the most in four years.
It's rather amazing just how much can change in the world of crypto. It was just the other day US-based exchanges were avoiding XRP because of their legal fears. Now, they are growing to be the most prominent for big XRP trades.
This could spell a big future for XRP in the US market. With easier trading and fewer concerns over unexpected flash price swings, maybe even more activity will continue to revolve around XRP in US markets.
Of course, the crypto market is always full of surprises, so who can tell what may follow? However for now, as it looks, XRP is back on its feet in the United States, and that's sort of thrilling for anyone interested in this corner of the crypto world.
Posted Using InLeo Alpha