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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Federal Judge Rules Justin Sun's Case Against World Liberty Financial to Remain in Open Court

chest

A federal judge in San Francisco ruled that Justin Sun's legal battle with World Liberty Financial over $45 million in frozen tokens will remain in open court, rejecting the company's bid for arbitration.

user avatarKaterina Papadopoulou

New Report Published Utilizing Primary Source Documentation.

chest

The report is based on information released in disclosures at primary source documentation, ensuring that the information provided is accurate and reliable.

user avatarMaya Lundqvist

US Spot Bitcoin ETFs Experience Record Inflows

chest

US spot Bitcoin ETFs saw a significant inflow of $60.6 billion on Thursday, marking their largest single-day gain since May 1.

user avatarLeo van der Veen

New Study Emphasizes the Significance of Primary Source Documentation.

chest

The report highlights the importance of primary source documentation for providing accurate and reliable information.

user avatarLi Weicheng

Cumulative Inflows into US Spot Solana ETFs Reach $116 Billion

chest

Cumulative inflows into US spot Solana ETFs have surpassed $116 billion, indicating growing institutional interest in the token.

user avatarTenzin Dorje

Binance to Remove Seven Spot Trading Pairs on August 21

chest

Binance has announced the removal of seven spot trading pairs on August 21 at 0300 UTC, including SUIBNB and LTCBNB, as part of its market optimization process.

user avatarAisha Farooq

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.