XRP Prices Rise High, Market Cap Ripple Immediately Passes SOL And USDT

XRP crypto assets recorded satisfactory nicks in the fourth quarter of 2024 by occupying third position in crypto by market cap. (Photo; Doc. InsideBitcoin)

JAKARTA - XRP, a crypto asset developed by Ripple Labs, has seen a significant spike in recent weeks. Based on data from CoinMarketCap, the price of XRP has increased by 27.72% in the past seven days, from US$1.8 (Rp28,440) to US$2.3 (Rp36,340). While the price movement of XRP in the past month, which jumped 36% from the previous price of only US$0.51 (Rp8,058).

The increase in XRP prices also raised its market cap to 136 billion US dollars (Rp2,148 trillion), making it the third largest cryptocurrency after Bitcoin and Ethereum. With this development, XRP managed to surpass Tether (USDT) which has a market capitalization of 134 billion US dollars (Rp2,117 trillion) and Solana (SOL) which was recorded at 108 billion US dollars (Rp 1,706 trillion). This achievement indicates market optimism for XRP's prospects.

XRP performance is influenced by several key factors, including the adoption of Ripple technology by various increasingly growing global financial institutions. In addition, high demand for XRP-based products, such as WisdomTree and 21Shares proposals in the US market, also strengthens investor expectations.

One of the triggers for another XRP increase was the end of Ripple's feud with US regulators, especially after a long dispute with the Securities and Exchange Commission (SEC) which took more than 3 years.

Although the crypto market remains volatile, many analysts estimate that the price of XRP has the potential to reach an all-time high of 3.8 US dollars recorded seven years ago. At the time of writing, on Monday, December 12, XRP was trading at the level of IDR 38,000 per coin. The price of XRP rose 30% in the last 24 hours based on CoinGecko data.

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