XRP Volume Up by 46.69%, Whats Going On?

XRPs Network Value to Transactions (NVT) ratio surged above 280 on June 19, according to data from CryptoQuant.

This metric compares the market capitalization of a cryptocurrency to the volume of transactions processed on its network. A high NVT ratio suggests that XRPs market value is outpacing its actual usage, which can be interpreted as a sign of overvaluation and speculative hype.

This divergence between price and network activity often signals a potential for sharp market corrections.

Nevertheless, XRP continues to make significant strides on the utility front. The XRP Ledger recently recorded an all-time high in daily transaction volume, processing more than 1.2 million transactions in a single day.

This achievement underscores growing interest and adoption of the network, even as price indicators show mixed signals.

XRP ETF odds grow

Recently, Bloomberg has raised its projection for spot-based XRP exchange-traded funds (ETFs) being approved in 2025 to 95%, up from a previous estimate of 85%.

This bullish outlook is echoed by activity on the Polymarket prediction platform, where the odds of an XRP ETF being approved by year-end have climbed to 90%, a 19% increase from earlier figures.

The rise in confidence is partly attributed to more active engagement from the U.S. Securities and Exchange Commission (SEC), which investors see as a positive sign for future ETF approvals.

Although Bitcoin and Ethereum currently dominate the ETF market, XRPs progress toward ETF status positions it as a strong contender.

If approved, XRP ETFs could offer investors a new alternative for crypto exposure, potentially altering the competitive landscape in digital asset investment products.