XRP Spot Volume Hits Six-Month High as Binance Records $7.3B in Trading

XRP trading activity increased massively in August, with spot trading volume on top crypto exchanges like Binance reaching its highest level in six months.

This shows that interest in XRP has picked up after a period of weaker activity. It also suggests that liquidity and participation in the XRP market have improved.

Binance Leads in XRP Trading Volume

According to CryptoQuant author Arab Chain, Binance had the highest XRP trading volume in August, at about $7.28 billion. Upbit came next with $4.68 billion, followed by Bithumb with $2.59 billion.

Other exchanges also recorded strong volumes. Bybit had about $1.40 billion, Gate.io $1.33 billion, and KuCoin $1.23 billion. Bitget recorded around $918.5 million, while Coinbase had about $915.4 million.

The increase across several major exchanges suggests XRP’s renewed trading activity and liquidity were spread across multiple markets.

Higher Volume Shows Renewed XRP Interest

Trading volume shows how much of an asset is being bought and sold over a certain period. A dramatic increase means more people are actively trading.

Arab Chain noted that the rise in XRP trading volume should not automatically be seen as bullish or bearish. Higher volume simply means more people are participating in the market. Price direction still depends on whether buyers or sellers are stronger.

Still, reaching a six-month high is an important sign.

Notably, the massive surge in spot volume in August coincided with a major price recovery for XRP in that month. The price surged 72% from $0.987 to $1.700 in the third week of August, helping elevate market interest in the coin. Meanwhile, the price action has cooled following a 21% dip.

XRP Could Target $3–$4 as Correction Nears End

Meanwhile, Elliott Wave analyst XForceGlobal believes XRP could resume its uptrend after its recent pullback, targeting $3–$4. While XRP has fallen more than 20% from its recent high, it has rebounded from $1.3098 to around $1.4835, gaining 13.26%.

XForceGlobal expects XRP to first target $2, with $3–$4 possible if the bullish trend continues—roughly 2–3x from current levels.

A fundamental catalyst is declining XRP reserves on Binance, which have dropped by about 500 million XRP, reflecting increased long-term holding and demand from spot XRP ETFs.

Ultimately, if strong trading activity continues in the coming months, XRP could benefit from a more active and liquid market.

The August numbers are a positive sign for XRP’s market health. Major exchanges such as Binance, Upbit, and Bithumb all recorded strong trading activity, helping XRP reach its highest spot volume in six months.