A dramatic reversal within the crypto market has seen TRUMP token trading volume surpass XRP, with a massive price correction. This behavior of the market in a very unpredictable way indicates that the crypto space is very unpredictable and speculative indicators often see large movements of trading activity, even as the prices they are falling. The increase in trading volume with the TRUMP token is more interesting in this situation of high volatility and uncertainty.
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Speculation Gives Rally TRUMP Token
Despite its sharp reduction in price (down 16% in the last 24 hours), the TRUMP token managed to surpass XRP in trading volume. The rally in trading activity in the TRUMP token has raised the interest of the entire cryptocurrency community, with speculation pointing to a strong reaction of traders to the token, possibly fueled by the political branding or the hype around its speculative nature.
Donald Trump, the 47th president of the United States, launched the official Trump (TRUMP) meme base, based in Solana, over the weekend. Its price immediately reached a high of nearly $80, indicating that it was a huge success at launch.
At the time of writing, TRUMP was trading at $35.69, with a 24-hour trading volume surpassing XRP's. Specifically, according to CoinMarketCap databasethe meme coin has experienced $8.7 billion in trading activity, compared to XRP's $8.3 billion.
Since his inauguration on January 17, TRUMP has experienced a staggering $38 billion in trade activity, according to CryptoQuant Data released on Wednesday. In particular, heavy selling as momentum cooling may be the reason for the price's recent sustained high trading volume.
according to Dexscreener Databaseselling volume has recently exceeded buying volume.
At the same time, XRP continues to grow, while maintaining the first place of the highest-ranking digital assets on the market. A short-term jump in TRUMP token trading volumes indicated a new shift in interest to tokens that offer greater flexibility and beneficial trading dynamics.
XRP strong position
Although the TRUMP token managed to take the lead in trading volume over XRP for a short period of time, it is not easy to replace it in the long term due to its presence in the market for years. XRP, being an old digital currency, has attracted followers and institutional investment and, therefore, is relatively stable in the market.
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The TRUMP token, on the other hand, is a recently introduced and relatively speculative asset and the trading peak may be volatile and depend on the whim of traders speculative rather than based on stable investment.
The difference between the two indicators – one driven by excitement and the other by strong fundamentals – highlights the different forces at work in the digital currency market. Although XRP could be more stable, the TRUMP coin is currently experiencing a short period of excitement and even disputewhich highlights the unpredictable nature of the market and the factors that affect trading activity.
Featured image from Gearbest, chart from TradingView
