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TL;DR
XRP ranked highly in terms of liquidity in Q4 2023, outpacing other major cryptocurrencies.
While Ripple’s coin exceeded certain benchmarks in 2023, it has experienced a decline in value recently.
Some analysts have positive expectations for the asset’s future performance, predicting significant price increases.
According to Kaiko, Ripple’s XRP ranked as the top 3 cryptocurrencies in terms of liquidity in Q4, 2023, surpassing the largest meme coin by market capitalization – Dogecoin (DOGE) – and Solana (SOL). The only two digital assets ahead were Bitcoin (BTC) and Ether (ETH).
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Kaiko’s quarterly #crypto asset liquidity ranking is now live! Q4 2023’s top 5 assets were:
1. #BTC2. #ETH3. #XRP4. #DOGE5. #SOL https://t.co/O00MAPnyGM
— Kaiko (@KaikoData) January 15, 2024
XRP witnessed many developments in the last quarter of 2023, with its price exceeding the $0.70 mark in November.
It also became the top-traded cryptocurrency on Uphold for the week of November 18 – November 25, when almost 75% of the exchange’s users purchased some amount of XRP.
At one point in 2023, the token turned into the most traded altcoin on US-based cryptocurrency exchanges, with SOL, LTC, and DOGE trailing behind.
Recall that multiple trading venues headquartered in the States, including Coinbase and Kraken, re-listed XRP following Ripple’s first major (yet partial) court victory against the Securities and Exchange Commission (SEC) last summer.
Despite its impressive performance in 2023, the asset’s price has been on a downfall lately, currently trading at around $0.57 (per CoinGecko’s data).
However, multiple analysts, such as Crypto Rover and Dark Defender, believe XRP’s glory days are yet to come. The former expects a “massive breakout” in the next eight weeks, while the latter envisioned a bull run that could take the asset’s value to as high as $22.50 before the end of 2024.
If you want to take a look at other XRP price predictions for 2024, feel free to check out our most recent video here:
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