CandleFocus XRP Overtakes BNB As Fifth-Largest Crypto, Market Cap Nears $100 Billion
2024-11-29
Author: Content Editor
Ripple's XRP has become the fifth-largest cryptocurrency by market capitalization, surpassing BNB. XRP's market cap reached $99 billion, its highest in over three years. The altcoin has seen strong bullish momentum, surging over 230% in November. Despite its size, XRP has underperformed in previous bull markets due to Ripple's legal battle with the SEC. However, the re-election of Donald Trump and his promise of regulatory clarity have generated institutional interest in XRP. The resignation of the SEC chair has also brought optimism that Ripple may no longer be targeted. Major institutional investors, including WisdomTree, have filed for an XRP ETF, which could attract more institutional funds and increase market demand for XRP. Trump's administration is expected to create a favorable regulatory environment for cryptocurrencies, including XRP. Ripple's CEO, Brad Garlinghouse, has donated to Trump's campaign and invested in the altcoin's demand.
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