XRP Breaks Into Top 3 Cryptos After Overtaking Tether and Solana

user avatar

by Giorgi Kostiuk

2 years ago

XRP has climbed to the third spot among cryptocurrencies by market cap, overtaking Tether and Solana. Over the past seven days, XRP's price has increased by almost 70%, reaching $2.5.

Reasons Behind XRP's Surge

The rise of XRP is linked to a series of political and regulatory developments alongside renewed market speculation. Donald Trump's election as the President of the USA has reignited enthusiasm in the cryptocurrency market. XRP's momentum increased due to reports about Ripple's stablecoin RLUSD's impending approval by the New York Department of Financial Services and the potential resolution of Ripple's legal battle with the SEC.

Potential Market Impact

Firms like Bitwise and Canary Capital are actively seeking SEC approval to introduce ETFs focused on XRP, further strengthening investor confidence in the coin.

Warning of Possible Drawdown

CryptoQuant analyst Maarten Regterschot notes that XRP's open interest has risen by 37%, indicating an increase in market leveraging. He warns that a similar past pattern led to a 17% price decline, emphasizing the importance of risk management.

XRP's ascent to the third position among cryptocurrencies highlights its market impact. Investors should be aware of potential risks associated with volatility.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Yaroch's Theft Compromises Investigations and Raises Security Concerns

Yaroch's fraudulent activities compromised investigations and raised security concerns regarding cryptocurrency managed by government agencies.

user avatarJesper Sørensen

Former FBI Agent Admits to Stealing $25 Million in Cryptocurrency

Former FBI agent Patrick Steven Yaroch pleaded guilty to stealing nearly $25 million in cryptocurrency from federal investigations, compromising sensitive operations.

user avatarRajesh Kumar

Labor Department Submits Crypto Retirement Rule for Review

The Labor Department's proposal includes guidelines for evaluating cryptocurrencies as investment options.

user avatarLucas Weissmann

Political Opposition to Crypto in Retirement Plans

Lawmakers express concerns over the risks of including cryptocurrencies in retirement savings.

user avatarEmily Carter

Trump Administration Proposes Crypto Inclusion in Retirement Plans

The US Department of Labor has proposed a regulatory framework to include cryptocurrencies in 401k plans, potentially opening a $10 trillion retirement market, pending White House approval.

user avatarFilippo Romano

Cory Fields Proposes Quantum Landmines to Protect Bitcoin from Future Quantum Attacks

Cory Fields proposes quantum landmines and auction mechanisms to protect Bitcoin from potential quantum computer thefts.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.