Ripple’s XRP Token Surges, Enters Top 4 Cryptocurrencies by Market Cap
The crypto market has been buzzing as Ripple’s XRP token experiences a significant surge in value. According to Coin Market Cap, XRP, backed by Ripple Labs, is now one of the top 4 cryptocurrencies by market cap, alongside Bitcoin (BTC), Ethereum (ETH), and Tether USD (USDT).
XRP Price Rallying
Over the past 24 hours, the price of XRP has seen significant gains. It has risen by 11% in the past day and by a whopping 26.71% in the past week. Currently, XRP is trading at $0.7167, with a 3.52% increase in the past hour.
This surge in price can be attributed to recent advancements made by the Ripple community to boost XRP tokenomics. With a trading volume increase of 85.85% in the past day, investors and traders are closely monitoring XRP for its future potential.
Ripple Community Supports XRP Token
The recent surge in XRP’s price aligns with the progress made by the Ripple community. Ripple Labs has announced successful collaborations within the crypto industry, contributing to the growth of the community. Notably, Ripple Labs partnered with the National Bank of Georgia for the Digital Lari CBDC pilot.
Additionally, the Dubai Financial Services Authority (DFSA) approved the use of XRP in the Dubai International Financial Centre (DIFC). This recognition of XRP as a digital asset by the DFSA allows licensed firms in the region to include it in their cryptocurrency services.
The outcome of the US SEC vs. Ripple Labs lawsuit has also played a significant role in XRP’s recent surge. The Ripple community achieved a partial win in the lawsuit, which has contributed to the token’s ongoing growth.
Hot Take: XRP Emerges as Top 4 Cryptocurrency
Ripple’s XRP token has experienced a remarkable surge, propelling it into the top 4 cryptocurrencies by market cap. This surge can be attributed to recent advancements and collaborations made by the Ripple community, as well as positive legal outcomes for Ripple Labs. With its price rallying and increased trading volume, XRP is garnering attention from investors and traders worldwide. As the crypto market continues to evolve, it will be interesting to see how XRP’s position within the top 4 cryptocurrencies unfolds in the future.
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