according to Data XRP is the most traded altcoin on the Binance exchange in December, CryptoQuant analyst JA Maartunn provided.

The cryptocurrency managed to generate more than $116.6 million in trading volume on the Binacne futures market.

Over the past few days, both Bitcoin and altcoins have seen significant price declines. However, the CryptoQuant analyst is convinced that the XRP token will be able to recover “relatively quickly.”

Earlier today, the price of XRP fell to an intraday low of $2.13, according to CoinGecko. It underperformed other major cryptocurrencies, falling by more than 4%.

The token associated with Ripple is now down more than 25% from its multi-year high achieved on December 3.

CoinGlass data shows that open interest for XRP currently stands at $1.90 billion. The Binance exchange accounts for nearly half of this amount ($812 million).