• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

XRP Surpasses Tether as Third Largest Cryptocurrency

user avatar

by Giorgi Kostiuk

a year ago

XRP has become the third-largest cryptocurrency, surpassing Tether with a market cap of $142 billion. The price reached $2.44, its highest since January 2018.

Factors Behind XRP's Growth

XRP's price surge is attributed to several factors, including the progress in Ripple's legal battle with the SEC. Speculation about a favorable outcome has boosted market confidence. Rumors of an ETF based on XRP have also added to the optimism. Changes in SEC leadership and political shifts in the US could create a more favorable regulatory environment.

Ripple's RLUSD Token Burn

Ripple burned 46.67 million RLUSD tokens, reducing the total supply to 100,000, sparking investor optimism. Ripple is expected to receive approval to launch RLUSD in New York, potentially as early as December 4, 2024.

Analysts Warn of Potential Volatility

Some analysts warn of potential volatility and sharp sell-offs. Maarten Regterschot noted that open interest is up by 37%, which could lead to price declines. CoinGlass data shows XRP open interest at $4 billion, indicating increased interest in the asset.

Open Interest is up 37% already—watch for volatility.

XRP is experiencing significant growth, strengthening its position in the crypto market. However, investors should be cautious of potential volatility risks.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Peter Brandt Analyzes Silver's Long-Term Structure

chest

Peter Brandt's recent chart analysis focuses on silver's long-term price action and trend strength using quarterly data.

user avatarLucas Weissmann

Japan to Introduce Regulations for Ripple's Operations

chest

Japan is set to introduce regulations that will allow Ripple Prime and Ripple Custody to operate within its digital asset compliance system.

user avatarFilippo Romano

Traditional RNG Systems and Their Limitations

chest

Most online casinos rely on random number generators (RNG) that operate behind the scenes, leading to trust-based systems. However, players must trust that these systems are functioning correctly without direct verification.

user avatarEmily Carter

Increased Scrutiny on Cryptocurrency Transactions in High-Risk Regions

chest

JPMorgan's recent decision to freeze accounts linked to Venezuela reflects a growing trend among financial institutions to scrutinize cryptocurrency transactions in high-risk regions, aiming to ensure compliance and manage risks.

user avatarTomas Novak

JPMorgan Freezes Accounts of Stablecoin Startups Linked to Venezuela

chest

JPMorgan Chase has frozen the accounts of stablecoin startups Blindpay and Kontigo due to their operations in Venezuela, highlighting compliance challenges in high-risk regions.

user avatarKaterina Papadopoulou

Debate Over Privacy Software and Criminal Liability Intensifies Following Rodriguez's Case

chest

The prosecution of Keonne Rodriguez has sparked a significant debate about the legal implications of developing privacy software, raising questions about criminal liability for developers.

user avatarMaya Lundqvist

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.