XRP Surpasses Binance Coin in Market Cap Race

user avatar

by Giorgi Kostiuk

2 years ago

Ripple Labs' XRP has returned to the top five cryptocurrencies by market capitalization, surpassing Binance Coin with a market cap reaching $100 billion.

XRP's Rise in November

Currently valued at $1.74, XRP has risen by 17% in the last 24 hours and a stunning 200% in the past month, marking its best performance since December 2017. This growth restored the price to levels last seen in April of 2021, while still trailing behind Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and Solana (SOL).

Technical Indicators Analysis

The daily chart shows a steep upward trend from $0.50 to $1.72 in a parabolic trend this month. The RSI stands at 88.09, indicating the asset is overbought, while the MACD at 0.25022 points towards buying pressure. Support levels are at $1.40 and $1.50 while major resistance levels are at $1.80. A pullback to the $1.50 area could provide a rally opportunity above $1.80 if volume increases.

Launch of Ripple's RLUSD Stablecoin

Ripple Labs is making headlines with its RLUSD stablecoin launch, which is pegged to the dollar. The New York Department of Financial Services is expected to approve the stablecoin by December. RLUSD's preparation began in August, with it now live on the XRP Ledger and Ethereum mainnet. Ripple's collaborations with exchanges such as Uphold, Bitstamp, and Bitso are set to support trading in this stablecoin.

XRP continues to impress with its significant growth amid anticipation of regulatory changes and the upcoming RLUSD stablecoin launch, enhancing interest in its future prospects.

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

Micron Stock Remains Bullish Amid HBM and DRAM Shortages

chest

Micron's stock forecast remains optimistic due to ongoing shortages in HBM and DRAM supplies, despite some analysts trimming their price targets.

user avatarAndrew Smith

AI Developers Call for Enhanced Cybersecurity Measures

chest

AI developers, including OpenAI and Anthropic, call for enhanced cybersecurity measures to combat the rising threat of AI-enabled cyberattacks on critical infrastructure.

user avatarJacob Williams

Analysts Predict Bitcoin Surge Could Benefit Shiba Inu

chest

Wall Street analysts predict that Bitcoin could reach 100,000 by the end of the year, which may positively impact Shiba Inu's price.

user avatarZainab Kamara

Shiba Inu SHIB Faces Price Correction After Brief Recovery

chest

Shiba Inu's price briefly reclaimed the 0000006 level but has since dipped to 0000005, indicating potential for further decline.

user avatarSon Min-ho

OpenAI Launches New Agentic Browser Feature for ChatGPT Work

chest

OpenAI has launched a new agentic browser feature in ChatGPT Work, allowing the AI to manage tasks on login-protected sites while maintaining session persistence.

user avatarAyman Ben Youssef

Surge in AI-Generated Vulnerabilities Threatens Bitcoin Security

chest

The Bitcoin Red Team reports a surge in AI-assisted vulnerability findings across Bitcoin projects, highlighting the urgency of addressing security flaws.

user avatarTando Nkube

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.