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In an electrifying turn of events on the crypto market,&nbsp;<a href="https://u.today/xrp-ledger-might-soon-level-up-with-new-upgrades-details" rel="noopener noreferrer nofollow">XRP</a>, one of the market's key players, has witnessed an astonishing surge in trading volume, skyrocketing by an impressive 91% over the course of just 24 hours.&nbsp;
According to data from&nbsp;<a href="https://coinglass.com/currencies/XRP" rel="noopener noreferrer nofollow">CoinGlass</a>, derivatives alone contributed $878.13 million to this surge, while spot markets added an additional $932 million, marking a notable 68.56% increase from the previous day.
Against a backdrop of heightened market volatility,&nbsp;<a href="https://u.today/btc-eth-and-xrp-price-prediction-for-may-6" rel="noopener noreferrer nofollow">XRP's price</a> exhibited considerable fluctuations, fluctuating by over 3.5%, declining by 4.2% and subsequently rebounding by 1.34%. Analysts attribute this volatility to ongoing legal proceedings between&nbsp;<a href="https://u.today/ripple-v-sec-crypto-lawyer-pinpoints-pivotal-decision-in-remedies-phase" rel="noopener noreferrer nofollow">Ripple</a> and the SEC, with today marking the deadline for the regulator to respond to Ripple's proposed solutions on the remedies issue. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="a0b23d55-6490-47e7-a89c-d1f99ec499d7" src="https://u.today/sites/default/files/inline-images/xrppriceee.png">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Furthermore, the recent market downturn, triggered by news of&nbsp;<a href="https://u.today/sec-staff-send-wells-notice-to-robinhood-details" rel="noopener noreferrer nofollow">Robinhood</a> receiving a Wells Notice from the SEC regarding its crypto operations, has added another layer of complexity to XRP's wild ride. The Wells Notice serves as a harbinger of potential legal action by the SEC against the popular trading platform, casting a shadow of apprehension over the entire crypto landscape.
Despite these fluctuations, XRP's market capitalization remains stable at $29.43 billion, translating to a trading volume-to-market cap ratio of 6.15%. While indicative of heightened trading activity, this ratio suggests that XRP's performance, while significant, is not unprecedented.
As investors brace for further developments in both the regulatory and market fronts,&nbsp;all eyes remain fixated on XRP, poised at the epicenter of this whirlwind of fear, greed and volatility.

XRP Skyrockets 91% in Volume as XRP Price Goes Wild

U_Today

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