XRP overtakes BNB to become the fourth by market value! Does 'off-chain layout' have a stronger surge than on-chain heat?

Husband Chain Coin XRP has been continuously soaring recently and surpassed BNB to become the fourth largest cryptocurrency by market value yesterday. In addition to the factor of SEC Chairman Gensler preparing to leave, Ripple's off-chain layout may also be one of the key factors for XRP's continued surge. (Background: Ripple XRP's market value breaks 100 billion, becoming the fourth largest cryptocurrency! Bitwise: BTC's impact on the 100,000 mark is hindered by 'two factors') (Background Supplement: Ripple XRP surges 25% to reach a three-and-a-half year high! What other 'SEC revenge' concept coins can be focused on?) After Trump's victory, the market's expectations for Trump's previous promised cryptocurrency policies have increased significantly, thus driving the cryptocurrency market into a new round of growth. Additionally, one of Trump's previous promises was to 'fire SEC Chairman Gary Gensler on the first day in office,' and this promise has recently been indirectly fulfilled, as Gary Gensler announced that he would resign on January 20 next year. In response, many cryptocurrency projects that have been entangled in litigation with the SEC began a wave of celebration, among which Ripple (XRP), which has been entangled in litigation for many years, performed the most brilliantly. According to Coingecko data, since the U.S. election, the price of XRP has soared from $0.55 to $1.8, an increase of 225%, with a nearly 24-hour increase of 16.4%. It is worth mentioning that due to the sharp rise in XRP yesterday (29th), its market value has now reached $101.9 billion, surpassing BNB's $94.6 billion market value, becoming the fourth largest cryptocurrency by market value. Is off-chain layout the secret weapon for the surge? Although the resignation of SEC Chairman Gary Gensler can indeed stimulate the rise of related tokens, the rise of XRP has indeed exceeded market expectations, which leads me to speculate that perhaps Ripple's past extensive off-chain collaborations with countries and enterprises have promoted the continuous rise of XRP. According to Fox Business citing informed sources, the New York Department of Financial Services (NYDFS) has today (30th) indicated to Ripple that it will approve its newly launched stablecoin product RLUSD, which is scheduled to launch on December 4. If approved as expected, RLUSD will allow legal public offerings. In late May 2023, Ripple acquired the Swiss digital asset custody company Metaco for $250 million, and in June this year completed the acquisition of the New York digital asset custody company Standard Custody & Trust Company. According to Ripple's announcement, these two acquisitions highlight the importance and increasing prevalence of digital assets, covering tokenized real-world assets (RWAs) ranging from stablecoins and central bank digital currencies (CBDCs) to stocks, bonds, commodities, and real estate. In mid-May 2023, Ripple announced the launch of a Central Bank Digital Currency (CBDC) platform aimed at central banks and institutional users. According to a Businesswire press release, the Ripple CBDC platform aims to address multiple use cases, including private transactions, wholesale or issuing stablecoins, and more. At that time, Surangel Whipps Jr, the President of the Republic of Palau, a country cooperating with Ripple, gave a very high evaluation of Ripple. According to a report by Cointelegraph in April this year, Japanese financial giant SBI Group will become the first Japanese company to use XRP Ledger blockchain supply chain solutions, which is also part of Ripple's promotion of enterprise solutions in Japan. Additionally, according to Haskey DX head Andy Dan, XRPL's excellent track record in enterprise applications, settlement speed, low cost, and scalability are key indicators for building supply chain financial solutions. I believe it may be Ripple's previous outstanding performance in international cooperation, coupled with the clearing of the SEC lawsuit, that has led institutions to start pouring into XRP. As for the altcoin season, perhaps it begins with these long-standing high market cap old coins that have not been defeated over the years. Binance's layout for meme coins has not been satisfactory. On the other hand, as this round of bull market is rarely dominated by meme coins, Binance has also changed its market strategy. From Binance's recent listing direction, it intends to list in the meme coin sector, such as the previous GOAT, ACT, PNUT, CHEEMS, WHY..., and the BSC ecosystem also intends to create a prosperous meme coin ecosystem. However, both aspects have not been very satisfactory. In terms of listing on exchanges, when ACT and PNUT were listed, it was found that the meme coin boom at that time was led by Binance, as small market cap tokens like ACT could be listed on Binance's spot market, leading the market to further anticipate that other tokens with higher market caps than ACT could also be listed on Binance's spot market. However, subsequently, several popular tokens were listed on Binance contracts, and $BAN, $CHEEMS, and $WHY dropped sharply immediately after being listed on contracts, causing Binance's meme coin listing plan to fall into trouble. As for the BSC ecosystem, since the aforementioned meme tokens $CHEEMS and $WHY are both from the BSC chain, it has raised some concerns about the meme ecosystem on the BSC chain. Additionally, there are many MEV bots (arbitrage bots) on the BSC chain that conduct arbitrage when users purchase tokens, leading to a poor buying experience for users on the chain, which has seriously hindered the BSC chain's plans to create a prosperous meme coin ecosystem. Related reports: Binance Beacon Chain will cease operations in November: quickly transfer Beacon Chain assets to BNB Chain 'otherwise risk permanent loss.' BNB Chain Connect Taipei Meetup: Exploring the infinite possibilities of Web3, participating in the BNB Hack Hackathon challenge for generous prizes. SOL surpasses BNB to become the third largest cryptocurrency! Market value of $113 billion leads giants like Starbucks, Sony... 'XRP overtakes BNB to become the fourth by market value! Does 'off-chain layout' have a stronger surge than on-chain heat?' This article was first published in BlockTempo (BlockTempo - the most influential blockchain news media).