Ripple’s XRP token has climbed to new heights, overtaking BNB to become the fourth-largest cryptocurrency by market capitalization, excluding stablecoin Tether (USDT). Riding on a strong holiday rally, XRP briefly hit $1.766, giving it a market cap of $100.78 billion, surpassing BNB’s $95 billion.
Although XRP has since retreated to $1.70, it remains firmly in fourth place, trailing behind Solana with a market cap of $115 billion. In an impressive 20% surge, XRP added over $10 billion in value within hours, further energizing the XRP Army, which now has its sights set on overtaking Solana at $119 billion.
Legal Developments Boost XRP Sentiment
Recent news from the US District Court of California has bolstered XRP’s rally. A judge granted a motion to expedite a final ruling in a class-action lawsuit involving Ripple, XRP, and CEO Brad Garlinghouse, a move seen as favorable for Ripple.
Although separate from the SEC’s lawsuit alleging XRP was sold as an unregistered security, this ruling could indirectly influence the SEC case, adding to XRP investors’ optimism.
Whale Movements Suggest a Looming Price Explosion
Adding fuel to XRP’s bullish momentum, two massive transactions totaling 139 million XRP (valued at over $225 million) have been reported by Whale Alert.
- 35,000,000 XRP worth $58.3 million.
- 104,392,571 XRP worth $167.2 million.
The identity of the wallet holders remains unknown, leaving speculation open about whether these are Ripple-controlled wallets, exchange transfers, or activities from non-corporate entities. Regardless, the significant movement hints at heightened market activity and potential price volatility.
XRP Trading Volume Hits Record Highs
XRP trading volume has skyrocketed to levels not seen since 2021, reflecting robust interest amid the ongoing crypto bull market. This trend is further supported by data comparing Bitcoin returns against the MarketVector Digital Assets 100 Small Cap Index, which highlights a strong rally among altcoins.
In South Korea, the Kimchi premium—the gap between domestic and offshore Bitcoin prices—has not reached euphoric levels, suggesting there is still room for retail money to enter the market. This aligns with the broader altcoin season, where meme coins and decentralized exchange activity are thriving.
Price Targets: Could XRP Hit $5?
With XRP’s bullish momentum and favorable market conditions, analysts are eyeing $5 as a near-term price target, possibly by Christmas. However, ambitious predictions like $40 or $100 have also emerged, with the latter implying a market cap of $10 trillion—a staggering figure that dwarfs the US national debt of $36 trillion.
Conclusion: Altcoin Season Favors XRP
XRP’s remarkable performance underscores its growing influence in the crypto market. As legal developments unfold and whale activity intensifies, XRP appears well-positioned for further gains.
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