Amid the ongoing consolidation of the majority of the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a>, <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">XRP</a> is recording increased daily trading activity, pushing the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> toward the very top of the list of the most traded <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> assets, even overtaking some with a higher market capitalization.Specifically, <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto traders</a> and <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investors</a> have transferred 1,489,500,834 <a href="https://finbold.com/guide/how-to-buy-ripple-xrp/" rel="noopener noreferrer nofollow">XRP tokens</a> worth around $729 million in the last 24 hours, indicating an increase of over 15%, according to the latest information retrieved by Finbold from the crypto monitoring platform <a href="https://finbold.com/guide/best-crypto-data-websites/#CoinMarketCap" rel="noopener noreferrer nofollow">CoinMarketCap</a> on July 13.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/f324068333574a40a6bffd26587522d3.png" />Top cryptocurrencies by market cap. Source: <a href="https://coinmarketcap.com/" rel="noopener noreferrer nofollow">CoinMarketCap</a>Notably, the daily amount of traded XRP is higher than that of Binance Coin (<a href="https://finbold.com/cryptocurrency/bnb/" rel="noopener noreferrer nofollow">BNB</a>), which is a larger cryptocurrency than XRP by market capitalization but has recorded a volume of $449 million worth of BNB (1,825,919 BNB) transacted across <a href="https://finbold.com/guide/best-cryptocurrency-trading-platforms/" rel="noopener noreferrer nofollow">crypto exchanges</a> during the same time.<h2 id="header-0">What it means</h2>All things considered, the trading volume of a crypto asset does not directly influence its price but rather refers to the activity of traders in buying and selling it. For instance, in the case of XRP, it could indicate <a href="https://finbold.com/guide/what-is-hodl/#Whale" rel="noopener noreferrer nofollow">whales</a> are selling it as the cryptocurrency continues to trade sideways.On the other hand, its price remaining above the critical $0.47 level might suggest that whales are in the ‘hodl’ mode, taking the chance to accumulate more XRP before its price rallies again – considering its 4-hour relative strength index (RSI) has risen above 50, according to the <a href="https://www.tradingview.com/chart/xeNSJPSl/?symbol&#61;BINANCE%3AXRPUSDT" rel="noopener noreferrer nofollow">data</a> from the <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">finance</a> and crypto analytics platform TradingView.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ebb4c350073e40be9c56cd10926c75f4.png" />XRP relative strength index versus price. Source: <a href="https://www.tradingview.com/chart/xeNSJPSl/?symbol&#61;BINANCE%3AXRPUSDT" rel="noopener noreferrer nofollow">TradingView</a><h2 id="header-1">XRP price analysis</h2>Meanwhile, XRP was at press time changing hands at the price of $0.4733, recording a decline of 0.12% on the day and dropping 0.24% across the previous week, as well as losing 12.07% to its value in the last month, as the latest charts indicate.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/4246316dd60e428aad362da2df0620b7.png" />XRP 24-hour price chart. Source: <a href="https://finbold.com/cryptocurrency/xrp/" rel="noopener noreferrer nofollow">Finbold</a>Indeed, XRP could improve its price in connection with the developments surrounding the <a href="https://finbold.com/ripple-v-sec-case-update-as-of-july-10-2023/" rel="noopener noreferrer nofollow">lawsuit</a> that the United States Securities and Exchange Commission (<a href="https://finbold.com/topic/sec/" rel="noopener noreferrer nofollow">SEC</a>) has filed against <a href="https://finbold.com/topic/blockchain/" rel="noopener noreferrer nofollow">blockchain</a> company <a href="https://finbold.com/topic/ripple/" rel="noopener noreferrer nofollow">Ripple</a>, the outcome of which could set the course for both XRP and the rest of the industry.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

XRP flips BNB in 24-hour trading volume as action returns

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