XRP has recently made headlines by surpassing Binance Coin (BNB) to become the fourth-largest cryptocurrency by market capitalization. This milestone, achieved after an impressive price jump of 8% to $2.02-$2.03 over the last 24 hours, pushes XRP’s market cap to approximately $123 billion. This positions the cryptocurrency behind Bitcoin, Ethereum, and Tether in the rankings.
The Numbers Behind XRP’s Growth
XRP’s climb is fueled by a remarkable 177% increase in trading volume, reaching $3.8 billion in the same 24-hour window. Contributing significantly to this growth are consistent inflows into US-based spot XRP exchange-traded funds (ETFs). These ETFs allow investors easier access to the cryptocurrency market, highlighting increased adoption and utility of XRP.
BNB Struggles Amid XRP’s Rise
While XRP celebrates its rise, BNB now holds the fifth spot with a market cap of $121 billion, with prices fluctuating around $848-$860. This shift mirrors broader positive sentiment in the altcoin market as Bitcoin also surpasses $90,000, marking a historic high for the leading cryptocurrency.
Ripple’s Role in XRP’s Success
A significant driver in XRP’s momentum is Ripple’s strong focus on enabling low-cost cross-border payments. With more organizations adopting Ripple’s technology to optimize international transactions, investor confidence in XRP has surged. This innovative utility sets XRP apart from other cryptocurrencies, driving its consistent market adoption and investment interest.
How to Stay Informed
If you’re looking to stay ahead in the fast-evolving cryptocurrency market, platforms like CoinPedia are excellent resources. Founded in 2017, CoinPedia provides accurate and up-to-date insights into cryptocurrencies and blockchain advancements, ensuring transparency and reliability in every article.
To maximize your crypto trading journey, consider adding products like Ledger Nano X hardware wallet to your toolkit (available here). A secure and user-friendly wallet is crucial for managing assets like XRP safely.
Trade Responsibly
Despite the excitement around XRP’s growth, always conduct thorough research before making investment decisions. While Ripple’s network and the growing ETF market point to promising trends, the crypto market remains volatile. Plan strategically and consult financial experts when needed.
