As a seasoned crypto investor who’s weathered numerous market fluctuations, I must say, the recent surge of XRP has been quite intriguing. While Bitcoin and other major altcoins seem to be treading water, XRP is swimming against the current, up by 4.7% in the last 24 hours.
Over the past 24 hours, the value of XRP, the native token for the XRP Ledger, has been doing exceptionally well compared to other cryptocurrencies. It’s seen a 4.7% increase, while many other digital currencies have actually declined during this same timeframe.
Based on information from CryptoCompare, XRP’s current trading price stands at approximately $2.35 following an increase. At the moment, it ranks fourth among digital assets in terms of market capitalization, having been overtaken by Tether (USDT) – a leading stablecoin – due to a broader crypto market decline earlier this month.
As a crypto investor, I’m observing a modest increase of approximately 0.3% in Bitcoin’s value over the past day, placing it around $98,000. However, this is a drop from its all-time high of $103,700 hit earlier this month. Interestingly, among the top altcoins, only Solana has shown significant growth, rising by 2.5% over the same period.
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As a researcher, I’ve observed that prominent cryptocurrencies such as ETH, DOGE, BNB, ADA, TRX, and others have experienced a dip of approximately 2% to 4% in their values over the past 24 hours. Interestingly, smaller tokens like SHIB and TON have managed to secure minor gains during this period.
After the NYDFS approved Ripple‘s RÇUSD stablecoin for further development, as stated by Ripple CEO Brad Garlinghouse, we can expect exchange and partner listings to go live shortly.
According to a recent report by CoinShares, investment products linked to XRP brought in approximately $134.3 million last week. This accounts for nearly half of the total $275 million inflow these products have experienced so far this year.
Last week witnessed an unprecedented surge in investments into cryptocurrency-related funds, as a staggering $3.85 billion was poured into them during this period, coinciding with the upswing of the cryptocurrency market.
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2024-12-11 14:42