XRP Soars 20% in 24 Hours, Outpaces Altcoin Market; Traders Eye Bullish TargetsThis impressive rally has sparked optimism among traders, with popular analyst DonAlt projecting a potential future price of $6.90 for the cryptocurrency.
Meanwhile, Ripple is bolstering XRP’s ecosystem through strategic investments. The company recently supported Bitwise’s XRP ETP initiative, reflecting its commitment to expanding institutional adoption. Simultaneously, asset management firm WisdomTree has taken significant steps toward launching an XRP-focused ETF, further solidifying the token's growing appeal among traditional investors. These developments highlight increasing confidence in XRP's long-term prospects amid broader market gains.XRP Climbs to Fifth Spot, Nears $100 Billion Market Cap
XRP, the cryptocurrency closely tied to Ripple, has surged to fifth place by market capitalization, overtaking Binance's BNB, according to data from CoinGecko. XRP's current valuation stands at $96.7 billion, edging ahead of BNB's $96 billion, as it inches closer to joining the exclusive $100 billion market cap club.November has been a breakthrough month for XRP, with the token skyrocketing by over 200%, marking its most successful month since December 2017. On Friday, it breached the critical resistance level of $1.60 and continued its upward momentum. At the time of writing, XRP is trading at $1.70, a price level not seen since April 2021.The rally comes amid heightened anticipation that the U.S. Securities and Exchange Commission (SEC) may abandon its lawsuit against Ripple. This speculation gained traction after Chris Giancarlo, a former chairman of the Commodity Futures Trading Commission (CFTC), remarked he "would bet" on such an outcome.Once the second-largest cryptocurrency by market capitalization in 2018, XRP's standing plummeted after the SEC sued Ripple in late 2020. The lawsuit led XRP to the brink of exiting the top 10 cryptocurrencies. However, with the recent shift in crypto market dynamics and the crypto industry's pushback against SEC Chair Gary Gensler, XRP has regained its footing in the top five.Despite its impressive comeback, XRP is still 50% below its all-time high of $3.40, reached in January 2018.
Meanwhile, Ripple is bolstering XRP’s ecosystem through strategic investments. The company recently supported Bitwise’s XRP ETP initiative, reflecting its commitment to expanding institutional adoption. Simultaneously, asset management firm WisdomTree has taken significant steps toward launching an XRP-focused ETF, further solidifying the token's growing appeal among traditional investors. These developments highlight increasing confidence in XRP's long-term prospects amid broader market gains.XRP Climbs to Fifth Spot, Nears $100 Billion Market Cap
XRP, the cryptocurrency closely tied to Ripple, has surged to fifth place by market capitalization, overtaking Binance's BNB, according to data from CoinGecko. XRP's current valuation stands at $96.7 billion, edging ahead of BNB's $96 billion, as it inches closer to joining the exclusive $100 billion market cap club.November has been a breakthrough month for XRP, with the token skyrocketing by over 200%, marking its most successful month since December 2017. On Friday, it breached the critical resistance level of $1.60 and continued its upward momentum. At the time of writing, XRP is trading at $1.70, a price level not seen since April 2021.The rally comes amid heightened anticipation that the U.S. Securities and Exchange Commission (SEC) may abandon its lawsuit against Ripple. This speculation gained traction after Chris Giancarlo, a former chairman of the Commodity Futures Trading Commission (CFTC), remarked he "would bet" on such an outcome.Once the second-largest cryptocurrency by market capitalization in 2018, XRP's standing plummeted after the SEC sued Ripple in late 2020. The lawsuit led XRP to the brink of exiting the top 10 cryptocurrencies. However, with the recent shift in crypto market dynamics and the crypto industry's pushback against SEC Chair Gary Gensler, XRP has regained its footing in the top five.Despite its impressive comeback, XRP is still 50% below its all-time high of $3.40, reached in January 2018.
