XRP, the third largest coin on CoinMarketCap has been playing it safe in the market, maintaining its rank on CoinMarketCap and receiving major support from the community. However, a Twitter user observed a rank change [of XRP] on CoinMarketCap, in a list that dealt with XRP trading in different pairs on various exchanges.
According to @behindtheledger, the trade pair XRP/MXN, which was ranked 150th on CoinMarketCap’s trading volume list a few days ago, jumped to the 84th position, on 29 March. He tweeted,
“Bitso’s xrp/mxn pair, which was #150 on Coinmarketcap’s volume ranking two days ago, has jumped up to #84.”
The user also added that XRP transfer volume from Bitstamp to Bitso hot wallet had increased, providing a chart to substantiate his claim.
The number of transfers calculated by the user for March 28 was 373, while on March 29 the transfers reached a total of 132. The average size of the transfers were 1,640 XRP.
Meanwhile, the incoming traffic from Bitstamp also considerably increased, the Twitter user said. The speculated reasons for this surge were xRapid transactions and users migrating from Bitstamp to Bitso. According to @behindtheledger, there could also be two other possibilities for the surge. The user tweeted,
“I see two possibilities: Bitstamp USD is more convenient for the customer for whatever reason, or US regulation is holding back Bittrex.”
Bittrex is generally considered as Ripple’s go-to partner for xRapid transactions in the United States.
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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.