Cross-border payment solution XRP has risen nearly 300% in just one month and is now the fifth-largest cryptocurrency by market capitalization.
According to data from CoinMarketCap, XRP's market capitalization currently hovers around $110 billion, significantly higher than BNB's valuation of $94.422 billion.
BNB, the native asset of the Binance ecosystem, was the fourth largest crypto asset as of early last month, while XRP was ranked seventh. However, XRP rose furiously from $0.491 on November 1st to $1.957 on November 30th, a staggering 298% gain in just 30 days.
Source: CoinMarketCap
XRP is currently closing in on Solana (SOL). The layer 1 altcoin and rival of Ethereum (ETH) is currently the fourth largest crypto asset with a value of $113.416 billion.
About six years ago, XRP was the second-largest cryptocurrency by market capitalization after Bitcoin (BTC). However, the situation for altcoin payments worsened in December 2020 when the US Securities and Exchange Commission (SEC) sued Ripple, claiming that Ripple had been selling XRP as an unregistered security for many years.
In July 2023, XRP exploded after Judge Annalisa Torres ruled that Ripple's automated open market sales of XRP were not securities. Judge Torres also rejected the SEC's claim that Ripple executives Brad Garlinghouse and Chris Larsen engaged in an unregistered securities offering by personally selling XRP.
As of this writing, XRP is trading at $1.94.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me ×Facebook and Telegram
Surf the Daily Hoddle Mix
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Minpaymenter/WhiteBarbie
