XRP has reached a significant milestone by surpassing a $100 billion market cap for the first time since 2018, with a 238% surge in the last 30 days, signaling renewed investor interest.
XRP: New Heights and Historical Growth
Recently, XRP has once again crossed the $100 billion market capitalization mark, a feat not seen since January 2018. Currently, the token's market cap stands at $108.69 billion. Investor interest and market activity are underpinning the cryptocurrency's strong recovery. Over the past 24 hours, XRP has seen a 3.76% increase, with a 19.09% rise over the past week.
Technical Analysis and Forecasts
In recent weeks, XRP's price has skyrocketed by 238% in 30 days, 213% over 90 days, and 182% over the past year. Technical analysts point to the current monthly breakout as potentially mirroring the historical rally of 2017, where XRP surged more than 273%.
Impact of Positive Market Movements
At the start of the year, XRP displayed modest net outflows, which gradually shifted to intense inflows since late October. This resulted in increased interest in the token, with its price rising from under $1 to nearly $2 by November's end. However, in December, outflows have started to appear, showing profit-taking after the sharp rally.
The milestone of reaching a $100 billion market cap underscores the revived interest and resurgence of XRP in the cryptocurrency market. Despite current volatility, many traders and investors remain optimistic about future growth.
