XRP Price Hits $2 in Epic Bullish Move
On December 1, the price of XRP hit $2 for the first time in 6 years.
XRP’s market dynamics highlight its strong position in the cryptocurrency space, with a market cap of $113.17 billion, reflecting a growth of 4.24%.
In the last 24 hours, trading volume reached $11.18 billion, a notable increase of 32.93%, demonstrating increased liquidity and investor activity. XRP’s fully diluted valuation (FDV) stands at $198.37 billion, emphasizing its long-term potential.
The volume-to-market cap ratio of 9.65% underscores the high level of trading activity relative to its market cap. With a total supply of 99.99 billion XRP and a capped maximum supply of 100 billion XRP, its near-full issuance indicates a stable supply structure that supports its robust market performance.
Ripple’s Stablecoin Gets the Green Light?
Over the weekend, the price of XRP reacted to speculation about the adoption of RLUSD.
The New York Department of Financial Services (NYDFS) is reportedly close to approving a new stablecoin issued by Ripple, known as RLUSD, according to FOX Business.
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Ripple’s XRP surged 20% over the Thanksgiving weekend, marking a 200% surge since October and solidifying its position as the fifth-largest cryptocurrency by market cap at $108 billion.
Ripple is preparing for a potential launch on December 4, pending approval. If granted, Ripple will be authorized to offer RLUSD to the public, marking a significant step forward in New York’s regulated digital finance market and strengthening its position within the stablecoin ecosystem.
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