Ripple XRP's market capitalization surpasses 100 billion, becoming the fourth largest cryptocurrency! Bitwise: Bitcoin's attempt to hit the 100,000 USD mark is hindered by 'two factors.'

The long-established public chain Ripple XRP has seen a surge recently, with an increase of up to 228% in the past month, and its market capitalization has surpassed 100 billion USD, overtaking BNB to become the fourth largest cryptocurrency. However, Bitwise analysts pointed out that it may not be so easy for Bitcoin to reach the 100,000 USD mark recently. (Background: Israel and Hezbollah reached a ceasefire agreement! Gold and Bitcoin both fell, has the safe-haven market ended?) (Background supplement: Ripple XRP surged 25% to create a new three-and-a-half-year high! What other 'SEC revenge' concept coins can be observed?) Recently, Bitcoin has experienced a pullback after failing to hit the 100,000 USD target, and the market's funds have begun to pay attention to altcoins, with cryptocurrencies like Ethereum and ADA starting to rebound. Among them, the long-established public chain Ripple has achieved outstanding performance this month, currently reaching 1.71 USD, with a 24-hour increase of 18%, and a 228% jump over the past month, with a market capitalization exceeding 100 billion USD, successfully surpassing BNB to rank as the fourth largest cryptocurrency (excluding stablecoin USDT). XRP has risen to the fourth largest cryptocurrency. Source of the image: CoinGecko. Will regulatory easing help XRP rise? We know that as a long-established public chain, Ripple is slightly behind Solana and Ethereum in terms of coin price and ecosystem development. At the same time, due to the long-standing legal issues between the SEC and Ripple, it has also been overlooked or even not favored by the market at times. However, with Trump winning the US election, his open attitude towards cryptocurrencies, and SEC Chairman Gary Gensler announcing his resignation when Trump takes office in January, current investors believe that cryptocurrency companies that had litigation battles with the SEC will be liberated after Trump takes office. On the other hand, under the friendly prospects of cryptocurrency regulation, many investors and institutions are currently seeking cryptocurrency spot ETFs besides Bitcoin and Ethereum, with popular candidate tokens including SOL, DOGE, XRP, and others. Extended reading: Is Ripple's spot ETF coming? Analysts assert: Bitwise's chances of passing the review are nearly zero, SEC appeals and XRP drops 10%. Bitwise warns: A strong US dollar may affect Bitcoin's attempt to hit the 100,000 USD mark. In addition, regarding Bitcoin's trend, Bitwise analysts recently stated that the US dollar index has recently risen from 103.42 on the day Trump won to the current level of 106, which may hinder Bitcoin's attempt to reach 100,000 USD. Historical data shows that Bitcoin often faces restrictions during periods of a strong US dollar. Additionally, a strong US dollar often signals tightening global liquidity, which is currently the most important economic factor affecting Bitcoin. The US dollar index is stronger compared to the day Trump won. Furthermore, Bitwise analysts also pointed out that another major factor that may hinder Bitcoin's rise is the increasing possibility of the Bank of Japan raising interest rates on December 19. According to previous reports from Dongqu, the October CPI data released by Japan's Ministry of Internal Affairs and Communications on the 22nd of this month shows that inflationary pressure still exists in Japan, and the USD/JPY exchange rate has recently declined, which may increase the likelihood of the Bank of Japan raising interest rates at next month's meeting. If Japan raises interest rates again, the yen carry trade that previously caused turbulence in the global capital markets may reappear, and Bitcoin may also be affected. Extended reading: Did the collapse of 3000 trillion yen carry trading cause this stock market bloodbath? State Street Global: Bitcoin's recent surge has brought false security to investors. Additionally, George Milling-Stanley, Chief Strategist at State Street Global Advisors, recently stated that Bitcoin's surge this month may have provided investors with a false sense of security, as current investors tend to buy in order to profit from Bitcoin investments rather than seeing the long-term value of Bitcoin. In simple terms, investing in Bitcoin is a behavior seeking returns, indicating that the influx of investors is in pursuit of profits rather than recognizing Bitcoin's long-term value or utility. The Bitcoin ETF options launched last week may be related to this, as people are able to bet on price fluctuations with smaller amounts of capital, but are not actually buying Bitcoin. Related reports: Cardano founder: Bitcoin DeFi will dominate decentralized finance in three years, ADA rose 190% in a month. Bitcoin holds at 95,000 USD, Ethereum temporarily cools, five major data suggest that 90,000 may be the bottom stage for BTC. Pantera Capital: We bought 2% of Bitcoin globally ten years ago, now achieving a 1130-fold return myth. "Ripple XRP's market capitalization surpasses 100 billion, becoming the fourth largest cryptocurrency! Bitwise: Bitcoin's attempt to hit 100,000 USD is hindered by 'two factors'." This article was first published on Dongqu BlockTempo (Dongqu Trends - The most influential blockchain news media).