Ripple (XRP) is in its bullish period with the price rising above the threshold of $1.50 in the last 24 hours. The current sixth crypto, with over 80 billion dollars of market cap, could soon climb the rankings again?
Ripple (XRP): the price soars towards the highs and surpasses the threshold of $1.50
The price of Ripple (XRP) is experiencing dizzying performance. In just the last 24 hours, XRP has risen from $1.36 to $1.51. At the time of writing, the price of XRP is $1.47.
Yet, looking at the price chart of the week, the price of XRP reached as high as $1.60 during the day of November 23.
This bullish tale of XRP has arrived in conjunction with several situations that occurred in the last month, which have unlocked investors to believe once again in Ripple. And indeed, the price of XRP is in a pump of +181% compared to 30 days ago, when it was worth $0.50.
If the sentiment for XRP continues to be positive, the fifth crypto by market cap could soon reach its all-time high.
Looking at the chart of XRP, its All-Time High (or ATH) is $2.40 reached in January 2018. Another maximum price for XRP was then reached in April 2021 and was $1.75.
For most of the time, however, the price of XRP has always been below the $1 threshold, and in fact, the real hype for XRP was already surpassing $1 in the middle of this month.
Ripple (XRP): the price soars thanks to positive crypto news
Among the most recent crypto news supporting the bullish of Ripple, there is the registration of Wisdom Tree in the state of Delaware for its new ETF on XRP.
This filing shows that the issuer wants to launch on the USA exchanges an ETF on XRP spot, in addition to those on Bitcoin and Ethereum.
Not only that, in these hours, there is also the announcement from Bitwise that has renamed its European XRP ETP to GXRP.
$XRP, the 5th largest crypto asset with an $80B+ market cap, is gaining more and more popularity due to its speed, efficiency, and reliability in areas like cross-border remittances, institutional DeFi, and real-world tokenization.
Today we have announced the renaming of our… pic.twitter.com/VnT1kerNnD
— Bitwise Europe (formerly ETC Group) (@Bitwise_Europe) November 27, 2024
“$XRP, the fifth largest cryptocurrency with a market capitalization of over 80 billion dollars, is gaining more and more popularity thanks to its speed, efficiency, and reliability in sectors such as cross-border remittances, institutional DeFi, and real-world tokenization. Today we announced the renaming of our European exchange-traded product XRP (Ticker $GXRP; ISIN DE000A3GYNB0) as part of a broader rebranding of our suite of European products. GXRP is traded on the Deutsche Börse XETRA in Germany and provides institutional-level access to XRP. We are also proud to announce that @Ripple is an investor in the new ETP. “
But the real workhorse for Ripple, was the news of the rebellion of as many as 18 US states against Gary Gensler and the entire Securities and Exchange Commission, accusing them of having pursued the crypto industry.
Ripple was the crypto company that more than any other had to suffer the accusations from the SEC, in a lawsuit that lasted a full 4 years.
The rise in the crypto ranking: resistance, resilience, and conquest
After the resistance, for Ripple perhaps the time has come for resilience and conquest. In fact, after four years with the SEC on its heels, XRP has dropped in the crypto rankings by market cap, yet it has always remained in the top 10.
As of today, however, with these revolutions, Ripple seems to have overcome the resistance phase and is returning to regain the lost positions.
In fact, XRP is in sixth place in the crypto ranking by market cap, surpassing DOGE starting from the middle of this month. At the time of writing, the market cap of XRP is 84 billion dollars, while DOGE has remained at 59 billion dollars.
The target of this rise in the crypto ranking is now the fourth place, occupied by BNB with its 94 billion dollars.
