The reason for the big surge of $XRP has been found! It has erased a month's bear market losses, surpassing USDT to become the third largest cryptocurrency by market capitalization!
The altcoin season has truly arrived! BTC's market share has dropped from 60% last month to below 57%. ETH's market share has also fallen to 12.9%, while the market share of other cryptocurrencies has risen to 31.5%, up from 28.1% last month.
Recently, XRP has been continuously rising, with a single-day increase exceeding 30%, pushing its market cap above $135.8 billion, thus surpassing USDT and ranking among the top three crypto tokens, just behind BTC and ETH.
There are three main reasons for this positive momentum:
① The legal dispute between Ripple and the SEC may soon be resolved, with a court ruling favorable to Ripple;
② Ripple's stablecoin RLUSD may receive approval on December 4;
③ Bitwise, Canary, and 21Shares have submitted applications for a spot XRP ETF.
These factors have collectively driven a general rise in XRP and its related old altcoins, such as ADA, XLM, LTC, etc.
This significant rebound of Ripple is primarily due to the clarity of policy rules; clear rules far outweigh prolonged gray areas!