XRP Makes Impressive Return to Top 100 Global Assets by Market Cap
Explore the latest developments in the world of cryptocurrency as XRP reclaims its position among the top 100 global assets by market cap, surpassing notable companies. This resurgence is part of a broader crypto market rally, fueling optimism for a continued bull run.
XRP’s Market Cap Outshines Major Corporations
Recent data from Companies Market Cap reveals that XRP’s market capitalization has surpassed that of well-known entities such as BlackRock and Sony. With a market cap hovering around $182 billion, XRP has outpaced BlackRock and Sony, which stand at $173 billion and $174 billion respectively.
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Currently, XRP ranks as the 88th largest asset globally, just behind Xiaomi. The cryptocurrency briefly surged past industry giants like Citigroup, Verizon, and Shopify following a weekend rally exceeding 3%. Although XRP has retraced some of these gains, it appears to be consolidating, potentially preparing for another upward movement.
The recent rally is part of a larger trend in the cryptocurrency market, with major altcoins such as Ethereum, Dogecoin, BNB, and Solana experiencing substantial gains. Several factors could propel XRP’s price higher, positioning it to surpass more companies in the global asset rankings.
A significant development is the anticipated launch of the REX-Osprey XRP ETF, which will be the first U.S.-based XRP fund offering institutional investors direct exposure to the altcoin. This launch is likely to introduce fresh liquidity into the XRP ecosystem. Additionally, market speculation surrounds an upcoming Federal Reserve rate cut at this week’s FOMC meeting, which could have bullish implications for XRP, although there is also a risk of a “sell the news” scenario.
XRP Aims for a Surge to $3.6
Renowned crypto analyst Ali Martinez has forecasted that XRP’s price could climb to $3.6 following its successful breach of the $3.05 level. Martinez outlined two potential scenarios for XRP’s price trajectory: either a direct ascent to $3.60 after surpassing $3.05 or a temporary dip to $2.80, followed by a rebound above $2.90 and subsequent rally to $3.60.
Furthermore, crypto analyst Dark Defender has identified key support levels at $3.01 and $2.85, suggesting these as pivotal points to monitor as XRP positions itself for another upward move. The analyst projects price targets at the $4.39 and $5.85 Fibonacci levels, which, if achieved, would represent new all-time highs for XRP.
As of the latest update, XRP is trading at approximately $3.04, experiencing a slight decline over the past 24 hours, according to CoinMarketCap data. The altcoin’s performance continues to be closely monitored by investors and analysts alike.
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