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XRP has risen more than 220% in the last month, touching $2 per coin.
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The Ripple asset is now the fifth most valued Cryptocurrency on the market.
XRP, the cryptocurrency issued by Ripple, reached a market capitalization that positions it above BNB, the currency created by Binance. This transition makes XRP the fifth most valuable cryptocurrency on the market, according to current data from CoinMarketCap.
The market capitalization of a cryptocurrency is calculated by multiplying the total number of coins in circulation by the current price of each one. This metric indicates that XRP has achieved a capitalization of USD 96,717 million, exceeding the USD 95,000 million of BNB.
The price of XRP increased 223% during the last month, going from USD 0.54 to USD 1.75 per token, showing renewed investor interest in its market. This increase has been part of a general bull market, also driven by the positive behavior ofBitcoin/” target=”_blank” rel=”noreferrer noopener”> bitcoin (BTC).
XRP surpassed BNB in market capitalization, Source: CoinMarketCap.
As CriptoNoticias reported, XRP is trading at levels not seen in the last three years. Although it is still 55% below its all-time high, there are signs that suggest it could enter an upward cycle in the short term.
A key factor in understanding this outlook is the rise in XRP open interest (OI), which has exceeded USD 2,730 million for the first time. The OI is a vital market indicator that shows both general sentiment as well as liquidity and trading activity.
An increase in OI indicates higher trader participation and a potential price increase, since it reflects an increase in market operations, both long and short positions.
Furthermore, Donald Trump’s recent election victory has positively influenced the stock market. cryptocurrencies. During his campaign, Trump expressed favorable support for these assets and promised regulation that would encourage its development.
This climate of regulatory trust is crucial, especially considering that four companies have filed applications to launch XRP-based exchange-traded funds (ETFs). The approval of these ETFs could attract traditional investors, thus increasing the liquidity and potentially the value of XRP.
This rise of XRP over BNB not only reflects the changing dynamics in cryptocurrency valuation, but also a growing confidence in the capabilities and future of Ripple and its underlying technology, the XRP Ledger.
This article was created using artificial intelligence and edited by a human Editor.
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