XRP Ranks Third in Market Cap, Surpassing $100 Billion

user avatar

by Giorgi Kostiuk

2 years ago

XRP has become the third largest token globally, surpassing a market cap of $100 billion. This success is attributed to several factors, including legal optimism and active trading on South Korean exchanges.

Drivers of XRP's Growth

Key drivers behind XRP's rally include legal optimism and ETF speculation. Particularly notable was the rise in trading activity on South Korean exchanges, significantly impacting the token's current growth.

Impact of Whale Movements

Recent data shows that over 2 billion XRP tokens were unlocked from Ripple's escrow within the last 24 hours. Additionally, over a billion XRP were transferred from unknown wallets to exchanges like Binance and Upbit. These processes traditionally trigger volatility but do not disrupt the market, facilitating XRP price swings.

Future Prospects and Predictions

Recent price action of XRP indicates the possibility of reaching a new all-time high by 2024's end. Trading volumes have risen by 18% compared to 2021, representing increased bull interest in the token. Some forecasts suggest the price might reach $11 and potentially $30, pending ongoing trajectory follow-through.

Final projections suggest confidence in further XRP growth, potentially setting new price records if the current momentum continues.

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

Strive Increases Bitcoin Holdings to 26,355 BTC

Strive has disclosed a purchase of 1,355 BTC, raising its total Bitcoin holdings to 26,355 BTC.

user avatarAisha Farooq

Broadcom Set to Gain from Alphabet's Custom TPU Sales

Broadcom is set to benefit from Alphabet's decision to sell custom TPUs to external data centers, enhancing its AI semiconductor revenue through a long-term agreement until 2031.

user avatarBayarjavkhlan Ganbaatar

Alphabet Enters Hardware Market with Custom TPUs for Data Centers

Alphabet announces the sale of its custom-made Tensor Processing Units (TPUs) to external data centers, marking a significant move into hardware sales.

user avatarTenzin Dorje

CoinsBee and TRON DAO Launch Discount Campaign for USDT Payments

CoinsBee, in collaboration with TRON DAO, is launching a campaign that offers eligible users a 2% discount on purchases made with USDT on TRON.

user avatarMohamed Farouk

USDT on TRON Surpasses Bitcoin as Most Used Payment Method on CoinsBee

USDT TRC20 on the TRON network has become the most used on-chain token and payment option on CoinsBee, surpassing Bitcoin and Ethereum in payment activity.

user avatarElias Mukuru

Panel Discussion on Trading Insights at Zoomex After Party

A flagship panel titled 'Where's the Edge' will feature industry KOLs discussing trading strategies and market dynamics.

user avatarKenji Takahashi

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.