On Coinbase, XRP has seen an incredible spike in trading volume, rising by 9,640% in a single day. As traders scrambled to profit from recent market swings, XRP’s trading volume on the exchange hit an astounding $438 million, according to statistics from CoinGlass. As speculation about XRP’s potential price trajectory grows, this enormous jump indicates increased interest in the cryptocurrency. According to market observers, a combination of institutional activity, trader’s strategic repositioning, and responses to more general macroeconomic events frequently cause such an exceptional volume rise.
Factors Sparked XRP’s Recent Surge
The top three factors that have influenced the native token of the XRPLedger.
Ripple Partners With Portuguese Firm For Cross-Border Payment To Brazil
Blockchain company Ripple has announced its partnership with Portuguese currency exchange provider Unicambio. The company made the announcement on February 10, 2025, Monday to support the instant cross-chain border payments between Brazil and Portuguese via Ripple payment, the organization’s digital asset-focused cross-border payments system.
Cassie Craddock, Ripple’s managing director for the UK and Europe, stated that their partnership with Unicambio was a significant milestone in Ripple’s European expansion. She mentioned that Portugal had developed a thriving crypto ecosystem and expressed delight in opening up its payment solution to partners there.
She also explained that by connecting their payment networks in Portugal and Brazil, they were facilitating faster, more cost-effective cross-border payments while strengthening the economic bridge between these two major markets.
XRP token has experienced significant corrections in the past week, however, this deal hasn’t changed the bearish momentum.
On-Chain Metrics Declined
The sharp drop in XRP’s on-chain measures over the past 48 hours has sparked questions about the asset’s market structure and possibly even some problems with its price performance. The general decrease can indicate a warning of network activity as a whole. Compared to its recent peaks, the total number of XRP payments on the network dropped by about 50%.
Additionally, the payment volume that peaked at the start of the month has returned to its lowest level locally and the number of active addresses is rapidly declining. A decrease in on-chain activity frequently indicates a dip in investor confidence, but it might also just be a reflection of the market’s general slump over the month. Although the overall decline indicates that XRP is losing ground, the situation isn’t too bad.
Nasdaq Files 19b-4s For CoinShares XRP And Litecoin ETFs With US SEC
Nasdaq has made a daring move in response to growing expectations around XRP exchange-traded funds (ETFs). In a stunning move, Nasdaq submitted 19b-4 documents to the Securities and Exchange Commission (SEC) introducing the Litecoin ETF and XRP ETF from CoinShares.
Institutional adoption is accelerated by these listings, which give investors access to fresh XRP and Litecoin investment options.
According to the filing, “The Exchange proposes to list and trade the Shares under Nasdaq Rule 5711 (d), which governs the listing and trading of Commodity-Base Trust Shares on the Exchange.”
These actions by Nasdaq come after CoinShares submitted an S-1 form to introduce XRP and Litecoin ETFs. it draws attention to the growing optimism of investors and exchanges over the growth of the cryptocurrency business, which is consistent with the evolving regulatory environment in the United States.
XRP Could Rally In Double-Digits
On February 10, XRP is trading around resistance at $2.5238. On the XRP/USDT daily price chart, the Relative Strength Index (RSI) is 40 and slopes upward. The underlying negative momentum in the XRP price trend is declining, as indicated by the Moving Average Convergence Divergence (MACD). However, the XRP could rally around 14% and test its February 4th high of $2.7874, a key resistance level for the altcoin.
