XRP has surged to $1.55, nearing its previous all-time high of over $3. Investors anticipate the token could soon surpass Binance Coin (BNB) in market cap, claiming the fifth spot. Ripple’s advancements, including the minting of 10.5 million RLUSD stablecoins, add to the growing optimism around XRP.
XRP Price Surge and Market Cap Growth
XRP’s market cap has risen to $88 billion after a 10% surge. The rally follows significant accumulation, with Binance withdrawals reaching a record 15 billion tokens. Analysts attribute this to strong bullish activity, which has mitigated selling pressure and prevented major pullbacks.
The token’s momentum contrasts with the 2021 cycle when XRP struggled to sustain gains after hitting milestones like $1. This time, consistent accumulation and growing FOMO among investors have set the stage for a more stable rally. Breaking the $2 barrier is seen as a critical step toward reclaiming its $3 all-time high.
Market sentiment indicates that XRP could flip BNB to secure the fifth-largest market cap ranking. For this to happen, sustained buying pressure and increased trading volumes are necessary. Analysts suggest that a broader crypto market rally, led by Bitcoin’s strong performance, could further fuel XRP’s upward trajectory.
Bitcoin Surpasses $91K As XRP and ADA Show Strong GainsRipple Advances RLUSD Stablecoin Testing
Ripple has minted 10.5 million RLUSD stablecoins as part of its mainnet testing. The project aims to prepare RLUSD for large-scale operational demands. Testing phases include minting, burning, and transferring tokens, ensuring the stablecoin’s readiness for the market.
The development of RLUSD is considered to be a part of Ripple’s ecosystem approach to its continued growth. The stablecoin could enhance transaction throughput and processing while also increasing Ripple’s market dominance. The launch date of the asset has not been made public but according to analysts, RLUSD could add another utility to XRP’s ecosystem.
Ripple’s aggressive development strategy, combined with XRP’s price performance, highlights the company’s growing influence in the crypto market. Investors are closely watching whether XRP can maintain its momentum and flip BNB in the rankings. The interplay between XRP’s price action and Ripple’s ecosystem growth remains a focal point for the market.
