XRP ($XRP ) from Ripple Labs has risen to third place by market capitalization. The coin has surpassed Solana (SOL) and the largest stablecoin USDT from Tether and now only trails behind Bitcoin and Ethereum.
In the past month, XRP has increased by 370%, from $0.5 to $2.48. The token's market capitalization exceeded $137 billion, according to CoinGecko at 10:40 Moscow time on December 1. Until the end of November, XRP was in fifth place on the list of the largest cryptocurrencies, but against the backdrop of reports that the stablecoin RLUSD from Ripple Labs may soon be approved in the USA, there was a sharp increase in the XRP exchange rate.
The New York Department of Financial Services (NYDFS) may soon approve the dollar-pegged coin RLUSD from Ripple, and the company is considering a potential launch date of December 4, Fox News reported on Friday, November 29, citing sources familiar with the matter. Since Friday, XRP has risen by 60%, from $1.5 to $2.4. The historical maximum for the cryptocurrency was recorded in January 2018 at $3.3.
The cryptocurrency from Ripple is also supported by investor sentiment, who are watching for a possible launch of exchange-traded funds on XRP. Several asset management companies, including Wisdom Tree, 21Shares, Canary Capital, and Bitwise, have submitted applications to create an XRP-ETF.
