Ripple’s XRP dropped in quarterly trading volume by three times than the trading volume it recorded in the first quarter of last year.
Investor interest in XRP fell in the first quarter of 2022, negatively impacting the trading volume over the quarter, according to data.
In the first quarter of 2022, the trading volume of XRP was at £163 billion, amounting to a 68% decrease compared to the first quarter of 2021.
The trading volume of the asset was over £511 billion in the first quarter last year.
The trading volumes for the first quarters of 2021 and 2022 differed by £348 billion.
The trading pairs with the United States Dollar Tether (USDT) dominated the top-10 markets for XRP in the first quarter this year. Besides USDT, the Binance United States Dollar (BUSD) also paired nicely with XRP to attract a significant trading volume on numerous platforms.
XRP’s trading volume was about £170 billion in January 2021, with a single-day high volume of £19.1 billion. Investor interest waned in January 2022, resulting in a trading volume of roughly £42.3 billion and single-day high volume of £2.88 billion.
February last year brought crypto market positive sentiment and XRP a good £234 billion in trading volume, with a single-day high volume being £27.1 billion. The token’s trading volume was £64.5 billion in February 2022, and its single-day high volume was recorded at £4.91 billion.
The trading volume in March 2021 was £107 billion. The month’s highest single-day volume was roughly £7.76 billion. The trading volume in March 2022 was £55.8 billion. The single-day high volume was in the region of £2.98 billion.
This year, XRP opened the day trading at a price of £663 on January 1, achieved a quarterly high of £727, and marked the closing of the first quarter at £649. From the opening to the closing price in Q1 2022, there was a 2% fall.
XRP opened on January 1, 2021, at £176, had a quarterly high of £594, and closed the first quarter of 2021 at £458 to a 161% gain between the opening and closing price in the quarter.