• 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

Tornado Cash Processes $25 Billion Despite Regulatory Challenges

chest

Tornado Cash, a cryptocurrency mixer, processed approximately $25 billion worth of Ethereum tokens in 2025, despite being under regulatory sanctions until March 2025.

user avatarTenzin Dorje

Legal Challenges Persist for Tornado Cash Founders

chest

The founders of Tornado Cash are facing legal challenges, with one founder sentenced to prison and another awaiting sentencing.

user avatarBayarjavkhlan Ganbaatar

India's Tax Authorities Raise Concerns Over Crypto Transactions

chest

Indian tax officials express concerns about the challenges in taxing cryptocurrency transactions due to their anonymity and borderless nature.

user avatarMohamed Farouk

Solana Surpasses $8 Billion in Open Interest

chest

Solana's open interest has crossed the $8 billion mark, indicating increased trader activity and risk appetite.

user avatarDiego Alvarez

Binance Achieves Key Regulatory Milestone with ADGM Authorization

chest

Binance has achieved full authorization from the ADGM's Financial Services Regulatory Authority, enhancing its regulatory compliance and boosting investor confidence in the global crypto market.

user avatarElias Mukuru

Google's UCP Set to Enhance Consumer Experience with AI Integration

chest

Google is set to integrate the Universal Commerce Protocol (UCP) into its consumer-facing products, enhancing the shopping experience with AI-powered recommendations and direct checkout.

user avatarMaria Fernandez

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.