XRP Surges to Become Third Largest Cryptocurrency, Overtakes USDT

user avatar

by Giorgi Kostiuk

2 years ago

XRP has surged ahead of Tether to become the world's third largest cryptocurrency. This rise is fueled by multiple factors, including potential regulation news and significant purchases by major investors.

Impact of RLUSD Stablecoin on XRP Price

According to Fox News, the NYDFS may soon approve Ripple's RLUSD stablecoin, with a launch expected on December 4. This move could affect XRP prices. Additionally, SEC Chair Gary Gensler's possible resignation may also contribute to a more stable outlook for the company.

XRP’s momentum seems linked to news that the NYDFS may soon approve Ripple’s RLUSD stablecoin.Peter Chung

XRP Purchases by Major Investors

Recently, 'whales' or major investors, have been acquiring significant amounts of XRP. As Ripple strengthens its position in its case with the SEC, investor confidence is rising. Whale Alert data shows that address r32...yLn acquired 50 million Ripple tokens, while rfQ...Cvi picked up 25.08 million tokens. These transactions have bolstered investor confidence in XRP.

XRP Breaks Past the $2 Mark

XRP reached a new price peak, jumping almost 29% in a single day to $2.39. Over the past month, the price has surged by 367%. This momentum has enabled XRP to surpass Solana and USDT, solidifying its position in the market.

XRP's growth underscores its significance in the cryptocurrency market, providing investors with confidence in its future.

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

Germany's Sparkassen Group Begins Cryptocurrency Trading Rollout

Germany's Sparkassen savings bank group is starting a phased rollout of cryptocurrency trading within its existing banking app, beginning on October 19, 2023.

user avatarGustavo Mendoza

CME Group to Launch Bitcoin Cash and Uniswap Futures on October 19

CME Group has scheduled the introduction of Bitcoin Cash and Uniswap futures for October 19, providing institutional traders with more cryptocurrency markets.

user avatarRajesh Kumar

Ethereum's Glamsterdam Upgrade Scheduled for Hoodi Test Network

Ethereum's next major upgrade, Glamsterdam, is set to activate on the Hoodi test network on October 26, marking a significant step in testing changes to block production and execution costs.

user avatarMiguel Rodriguez

International Crackdown on West African Scam Networks Results in 28 Arrests

An international effort against West African scam networks has led to 28 arrests and the removal of over 37 million accounts linked to fraudulent activity.

user avatarLuis Flores

Stablecoin Payment Transactions Surge Despite Flat Supply

A new report reveals a significant increase in stablecoin payment transactions, contrasting with stagnant supply levels.

user avatarArif Mukhtar

MARA Holdings Transfers 1,000 BTC to Exchanges Amid Market Scrutiny

MARA Holdings has transferred approximately 1,000 BTC to Binance and Gate over the past five days, raising questions about its treasury movements.

user avatarDavid Robinson

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.