XRP started the year by grabbing attention in the cryptocurrency market with its impressive development. While the overall market capitalization saw a strong increase, surpassing $160 billion in just 24 hours, XRP, the native token of Ripple, shone brightly, recording a growth of over 13% in the same period. XRP’s rise in the past day placed the asset in the top 3 largest cryptocurrencies in the market, behind only Bitcoin and Ethereum.
This upward trajectory did not come out of nowhere. XRP had been demonstrating strength since the beginning of the year, with a value around $2.08, and continued its climb to reach prices above $2.40. This momentum resulted in a significant increase in XRP’s market capitalization, raising it to an impressive $138 billion.
With this movement, XRP now occupies the coveted third place among the largest digital assets in terms of market capitalization, surpassing the stablecoin USDT from Tether, which holds a market value of $137.38 billion.
XRP saw a 13% increase in its price today and led the growth among the major cryptocurrencies, driven by an impressive growth in its trading volume. XRP’s trading volume is $11.7 billion in the last 24 hours, representing a 198.10% increase.
But what is behind this appreciation of XRP? Analysts point to a combination of factors, including expectations of a regulatory environment in the US that is more favorable to cryptocurrencies under the administration of President-elect Donald Trump. In addition, some anticipated policy changes, such as the inclusion of a strategic Bitcoin reserve in the country and the appointment of Paul Atkins as head of the Securities and Exchange Commission (SEC), have resulted in increased confidence among investors and cryptocurrency enthusiasts.
At the time of publication, the price of XRP was quoted at $2.41 with a 13% increase in the last 24 hours.
XRP Leads South Korea’s $1B Trading
The XRP token achieved an impressive milestone in the South Korean cryptocurrency market, surpassing Bitcoin (BTC) and Ethereum (ETH) in trading volume on major local exchanges. In a single day, XRP’s trading volume exceeded $1 billion, solidifying its position as the most traded cryptocurrency in the country.
On the Upbit exchange, the largest in the South Korean market, XRP’s trading volume reached $716.79 million, accounting for 13.67% of the platform’s total volume of $5.23 billion. Meanwhile, Bitcoin recorded $400.43 million, and Ethereum took only 2.51% of the total volume, highlighting traders’ broad preference for XRP.
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Cryptos
XRP
