Ripple’s XRP is making waves yet again in the cryptocurrency realm, marking a significant milestone by outshining prominent digital currencies like Bitcoin (BTC) and Ether (ETH) in trade volumes on the popular Uphold exchange. The recent data indicates a surge in XRP’s engagement among users, securing its position as the most traded asset on the platform in the last week.
XRP Triumphs: Uphold’s Remarkable Trading Trends
The Head of Research at Uphold, Dr Martin Hiesboeck, disclosed this unprecedented achievement, revealing that nearly 75% of the users actively engaged in acquiring XRP between November 18 and November 25. This remarkable surge in XRP’s trade volume has seen the token surpass leading cryptocurrencies BTC and ETH, with Kaspa (KAS) and Stellar (XLM) closely following suit, ranking in the top three positions.
This surge in XRP’s trading dominance is not an isolated occurrence; earlier this year, Ripple’s native token emerged as the most actively traded altcoin on US-based cryptocurrency exchanges, showcasing its growing popularity among investors. Uphold’s data emphasizes that XRP’s position in the crypto market continues to rise, underlining its relevance and appeal among traders.
Uphold-Ripple Collaboration: A Nexus of Crypto Success
The partnership between Ripple and Uphold, established in late October, has significantly contributed to bolstering XRP’s prominence. The collaboration aimed to fortify and elevate the infrastructure for cross-border payments. Uphold’s CEO, Simon McLoughlin, emphasized the synergies between the two entities, stating that the alliance harnesses the strengths of both Ripple and Uphold to facilitate efficient crypto-to-fiat transfers and streamline bank payouts.
In the wake of the partnership announcement, Uphold rolled out increased incentives for its users, including a substantial rise in XRP airdrop amounts. Last month, the exchange aimed to reward one fortunate user with an escalated XRP airdrop. Furthermore, Uphold introduced an enticing giveaway for November, offering a chance for a lucky client to receive an impressive 50,000 XRP, currently valued at $32,000.
As XRP continues to make headlines with its surging trade volumes and Uphold’s strategic collaborations, it reaffirms its standing as a force to be reckoned with in the cryptocurrency landscape, showcasing its potential to redefine the dynamics of digital asset transactions.