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 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

Other Crypto Funds Experience Significant Withdrawals

Other cryptocurrency ETF categories, including Solana and XRP, recorded significant withdrawals, indicating a broader trend of selling pressure.

user avatarSatoshi Nakamura

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

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.