$5,940,000,000 XRP Activity Surge Shocks Market as Price Flips Direction
The crypto market saw whipsaw price action in the early Friday session, with various crypto assets seeing a surge in trading activity.
XRP likewise saw its volume rise as much as 44% to reach $6.57 billion, according to CoinMarketCap data.
The broader crypto market rose in response to a weaker jobs report released Friday, which seemed to boost the potential of a rate cut in the upcoming Fed meeting scheduled for September.
Cryptocurrencies returned to green afterward, but the rise was shortlived, followed by a drop.
At press time, XRP was down 0.85% in the last 24 hours to $2.80 after reaching an intraday high of $2.88.
XRP news
CME futures recently gave a recap of August growth, which saw a record $36 billion in OI for Crypto futures and options. XRP stole the spotlight as it reached an all-time high in open interest as institutional activity expanded beyond Bitcoin.
Ripple CEO Brad Garlinghouse took to X to highlight the recent milestone, noting XRP's impressive surge in open interest: "Per CMEGroup data, XRP Futures contracts were the fastest-ever (just over 3 months) to hit $1B in open interest."
This week, the credentials amendment was activated on the XRP Ledger mainnet. Credentials (XLS-70) are designed to be a lightweight feature additive to the DID standard and are a framework for issuing, managing and verifying user credentials directly on the XRP Ledger. This standard introduces a new "Credential" ledger object along with new transaction types for creating, accepting and deleting credentials.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Nonfarm payrolls disappoint! Rate cut expectations surge, gold and bitcoin soar
U.S. non-farm payroll data for August fell far short of expectations, with the unemployment rate hitting a new high. Market expectations for a Federal Reserve rate cut in September have risen significantly, causing sharp volatility in the cryptocurrency market. Summary generated by Mars AI. This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still in the process of iterative improvement.
The rise of Sei's EVM rewrites the growth curve between performance and ecosystem
Sei once surpassed Solana in active users. By leveraging EVM compatibility and a high-performance architecture, Sei is propelling itself onto a new growth trajectory and becoming a focal point in the industry narrative.
DDC announces record-breaking financial report for the first half of 2025, treasury strategy BTC yield reaches 1,798%
DDC achieved comprehensive profitability, recording the highest gross profit margin and net profit in its history; launched a Bitcoin treasury strategy, and as of August 31, 2025, had accumulated 1,008 BTC, corresponding to a 1,798% BTC yield.
Trending news
MoreCrypto prices
More
