TL;DR
- XRP has overtaken Binance Coin (BNB) to become the fourth largest cryptocurrency by market cap, spiking to $0.71 and reaching a market capitalization of about $37.8 billion.
- Bitcoin, Ethereum, and Tether remain the top three, with Bitcoin approaching a $700 billion market cap and Tether hitting a record high market cap over $85 billion.
- XRP’s price rally are partly attributed to Ripple’slegal victories against the SEC, with experts suggesting a potential further rally if Ripple wins the trial next year.
Ripple’s native token – XRP – has surpassed Binance Coin (BNB) and became the fourth largest cryptocurrency (in terms of market capitalization).
The former has spiked to a fresh three-month high of $0.71 (per CoinGecko), registering a 12% increase on a daily basis.
Its market cap has soared to approximately $37.8 billion (as of the moment of writing these lines), whereas BNB is fifth with less with $37.7 billion.
The top three positions seem reserved for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The market cap of the leading digital asset is inching closer to $700 billion, whereas its closest rival has recorded around $227 billion.
As CryptoPotato reported earlier today, the largest stablecoin – USDT – set a new all-time high of over $85 billion.
One major reason behind XRP’s impressive rally in the past few weeks could be the developments surrounding the lawsuit between the blockchain enterprise and the US Securities and Exchange Commission.
Ripple appears to have the upper hand after securing three partial court victories against the regulator. Multiple experts believe a decisive win for the crypto firm in the trial next year could trigger an additional XRP rally.
Those curious to see how the asset might perform in the last quarter of 2023 could take a look at the video below:
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