The new Coingecko report shows that the main liquidity of the XRP is concentrated on three crypto -rhizas – Bitget, Binance and Coinbase.
These platforms control about 67% of all XRP trade activity. This means that most applications for the purchase and sale of Ripple token are focused on several orders.
Coingecko report reveals new data on XRP
XRP is highly dependent on a small number of platforms. If one of these exchanges encounters problems or reduces support, XRP traders may encounter delays, slipping or increasing spreads.
Coingecko analysis studied how much it costs to trade XRP with a slight change in the price of two cents, which is about 1% of its price.
In this range, XRP shows about $ 15 million in available applications on eight exchanges. Two -thirds of them are on three leading platforms.
Bitget is a leader in XRP trade
Bitget offers high liquidity at minimal price changes. This greatly simplifies XRP trade and allows you to move funds without significant fluctuations. However, liquidity on Bitget quickly falls if the price deviates from the market.
When the price deviates to two cents, Binance and Coinbase are almost catching up with volume. This emphasizes the dependence of the XRP on several platforms.
Other exchanges, such as OKX, Bybit, Kraken and Crypto.com, play a smaller role. Their orders for the purchase and sale of the XRP is much less compared to leaders.
XRP is inferior to SOLANA in liquidity and volume
The report also shows that the XRP is inferior to SOLANA (SOL) in liquidity and volume of trading, despite higher market capitalization. This gap raises questions about the real interest in the XRP trade. High market capitalization does not always mean strong support in the market. In this case, SOL seems to be more stable in demand among active traders.
As a result, XRP trade activity is high, but focused on several exchanges. Bitget, Binance and Coinbase dominate its liquidity, which makes the asset vulnerable to exchange risks. Compared to SOLANA, Altcoin Ripple seems less liquid and less popular for trade. This may affect the stability of the price, especially in conditions of market stress.
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Source: Cryptocurrency
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