Cryptocurrency becomes 3rd most valuable after $100 billion rally and 21% increase in 1 day

The cryptocurrency market has added about $1.2 trillion in value since Trump's victory, according to CoinGecko.

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Cryptocurrency becomes 3rd most valuable after $100 billion rally and 21% increase in 1 day

The cryptocurrency market has added about $1.2 trillion in value since Trump's victory, according to CoinGecko.

Bloomberg

12/02/2024 09:34 • Updated 6 days ago

XRP, the token associated with Ripple Labs, has jumped to third place among the largest cryptocurrencies, driven by a $100 billion rally in the crypto market.

The token surged as much as 21% on Monday to $2.50, taking its market cap to more than $137 billion, a significant jump from less than $30 billion on Nov. 5 when Donald Trump won the U.S. presidential election, according to data from CoinGecko. The rally has since cooled, with XRP falling back to No. 4 behind Tether (USDT).

Trump's victory has sparked a wave of speculative enthusiasm in crypto markets, with expectations that the president-elect will deliver on promises to create a favorable environment for crypto companies in the US. Even in this optimistic scenario, XRP's rally stands out: in recent weeks, its market value has surpassed that of rivals such as Solana and USDT, Tether's stablecoin, according to CoinGecko. $XRP

It's taking off soon. I can't wait