Yuri Molchan
The price of Ripple-affiliated XRP coin has soared and takes another step towards the top three
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CoinMarketCap shows that the XRP cryptocurrency has returned to the fourth position on the top 10 list, where it has not been seen for the past few years.
XRP jumps 30% to return to fourth place
XRP price has been rising since October 30, a printing almost 30% jump So far; It rose from $0.55024 to $0.71381 levels, where the coin is currently at the time of writing.
This is the highest price level for XRP since July this year, when Ripple received a positive court ruling against its rival, the SEC. At the time, a federal judge ruled that XRP sales on secondary markets do not qualify as securities, unlike initial direct sales to financial institutions.
Recently in a positive turn of events, the SEC regulator also dropped its personal charges against Ripple CEO Brad Garlinghouse and the company’s co-founder, Chris Larsen. This increased the positive sentiment in the XRP army.
XRP market cap increases, BNB left behind
The market capitalization value of the coin has increased to the level of $38,596,137,631 after increasing by more than 83%. After the recent surge, XRP has managed to overtake Binance Coin (BNB), which was previously ranked fourth on CoinMarketCap.
through image coinmarketcap
Over the past week, XRP rose 23% against Bitcoin. The analytics team at on-chain data company Santiment believes the huge increase is due to whales adding massive amounts of XRP stake to their balances.
Currently, according to a recent XRP post from Santiment, whales with 100,000-1,000,000,000
At the same time, according to data shared by Coinglass, during the last 24 hours, traders have liquidated XRP short positions worth $3.5 million.
About the Author
Yuri Molchan
Yuri is interested in technology and technological innovations. He has been writing about DLT and crypto since 2017. He believes that blockchain and cryptocurrencies have the potential to change the world in many of its aspects in the future. He has written for several crypto media outlets. His articles have been cited by crypto influencers like Tyler Winklevoss, John McAfee, CZ Binance, Max Keizer, etc.
source: u.today
