Amid a recent crypto market dip, XRP has defied expectations by emerging as the top-performing altcoin on Coinbase among the top 10 by market size, according to data from crypto market intelligence platform Kaiko. Other notable altcoins on this list included SOL, DOGE, LTC, ADA, MATIC, and DOT.
Kaiko’s data, shared on Twitter, unveiled an interesting trend. Except for XRP, all the mentioned altcoins exhibited average trade sizes below the $400 mark.
A display of the 7-day moving averages of these cryptocurrencies revealed that XRP’s average trade size surpassed its value during the Ripple vs. Securities and Exchange Commission (SEC) ruling.
The recent crypto market dip was instigated by Bitcoin, which experienced an approximate 8.7% drop in value over a 72-hour period, as per data from TradingView.
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During this decline, Bitcoin’s price dipped below crucial support levels, revisiting a recent low of $25,350. Ethereum, the leading altcoin, faced a similar fate, shedding 7.36% of its value during the crash and breaking key support before finding a temporary bottom at $1,602.
XRP was not immune to the market turbulence, suffering a 9.8% price decline. However, Kaiko’s report suggests that this drop might have been driven by a relatively small number of investors selling off higher volumes, indicating stability among XRP users post-Ripple vs. SEC ruling.
Following the July 13 ruling, XRP experienced a remarkable price surge, rallying 102.12% from $0.47045 to $0.94799 in less than 24 hours. While some gains have since been lost, XRP has displayed resilience, trading at $0.49677 at the time of this report.
