As a seasoned analyst with over two decades of experience in the financial industry, I must admit that I have witnessed my fair share of market volatility and dramatic turns. However, Ripple’s XRP‘s latest surge is nothing short of remarkable.
Ripple‘s XRP is once again drawing attention as it soars more than 30% in just one day, reaching a new height. At present, it’s trading at around $2.42, with its highest point being $2.50 for the day. Furthermore, it has outpaced Solana’s market capitalization, exceeding $138 billion.
This significant price jump brings XRP back to levels not seen since January 2018, when its value peaked at $3.40. As a result of this latest increase in value, XRP is once again the third most valuable cryptocurrency by market capitalization, trailing only behind Bitcoin and Ethereum.
Based on information from Coinmarketcap, the current market capitalization of XRP has soared to a remarkable peak of $137.6 billion. This new surge has propelled it past Solana’s market cap of $108 billion, leaving Solana in its wake.
After Donald Trump’s victory in the election, the revival began to gain traction, and it gained even more momentum following Gary Gensler’s resignation statement as SEC chair. The dedicated XRP community, often referred to as the XRP Army, swiftly shifted from a pessimistic outlook to an optimistic one, fueling their enthusiasm for XRP.
The token’s journey from being the largest crypto pre-lawsuit to losing to 7th, following the SEC’s case in opposition to Ripple in 2020 has been dramatic. However, its 300% rally this month displays renewed self-assurance.
Journalist Eleanor Terrett emphasized this shift, pointing out that XRP’s tenacity and expansion have significantly transformed its role in the global cryptocurrency landscape.
In just the last 24 hours, Ripple’s XRP has seen a significant increase of over 90% in trading activity, putting it back in the competition for market leadership. This surge is causing excitement and hope about its potential future.
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2024-12-02 10:13