XRP sees sharp swings following surge in DEX trading volume

XRP was among the lagging assets, which skipped the recent brief altcoin ￰0￱ recent dip for XRP to below $2.50 coincided with peak DEX ￰1￱ showed relative weakness under $2.50, as the asset failed to rally along with other altcoins. Instead, XRP showed weakness under $3, as more coins were sent to ￰2￱ Cryptopolitan reported , XRP whales dumped up to $50M worth of tokens on the open market each day, further pressuring the ￰3￱ addition to exchange inflows, XRP also showed a significant pickup in DEXs ￰4￱ is a recent addition to decentralized trading, mainly due to its technology, until an EVM-compatible version was created for ￰5￱ slowed its relentless climb after the recent delays of ETF approval ￰6￱ XRP is seen as one of the most probable additions to crypto ETF, the US Government shutdown has moved the dates indefinitely into the ￰7￱ Ledger posts more active DEX activity in October In the past few weeks, DEX activity linked to XRPL increased, with a higher daily ￰8￱ peaked in the past week, following the market-wide liquidation on October ￰9￱ the period of peak DEX activity, XRP sank further under $3, pressured by the overall market ￰10￱ transactions also increased on XRPL, rising from a recent low of 600K to over 900K transfers daily.

However, transfers are still lower compared to the last quarter of ￰11￱ DEX activity is seen as an indicator of more active ￰12￱ volumes may point to different ￰13￱ the bearish case, whales are using DEXs to shed more XRP, as they expect the downtrend to ￰14￱ all orders were filled, the opposite scenario may be an accumulation of XRP by smart money, expecting a recovery to a higher ￰15￱ possible explanation for XRP is that retail is panic-selling, while whales are using the opportunity to re-buy at a lower ￰16￱ of October 20, sentiment is shifting for XRP, with crowd money showing a more optimistic attitude, as whales remain ￰17￱ grows its DEX liquidity Recent data shows the past two quarters achieved gradual growth for XRPL decentralized ￰18￱ October 2024, decentralized trades for XRP moved to a higher liquidity range, often with over $20B available ￰19￱ increased its decentralized liquidity over the past year, with a recent peak on October 10 during the most active market liquidations. |