Ripple (XRP) Surges by 20%, Overtaking Binance Coin (BNB) to Secure Its Position as the Fifth-Largest Cryptocurrency by Market Capitalization

This rally comes as positive regulatory developments in Russia and India provide fresh momentum.

Cryptocurrency prices today: XRP surges 20%, entering top 5; NYDFS to approve Ripple stablecoin

World’s fifth-biggest cryptocurrency XRP has seen a 20% surge in its value over the last 24 hours, enabling it to overtake Binance Coin (BNB) and secure its place among the top five cryptocurrencies by market capitalization.

This rally follows positive developments in Russia and India regarding cryptocurrency regulations, which have injected fresh momentum into XRP’s performance.

Russia's evolving crypto regulations and India's progress with its Digital Rupee initiative have fueled optimism around XRP’s potential role in global digital finance.

Moreover, New York’s Department of Financial Services (NYDFS) is poised to approve Ripple’s RLUSD stablecoin, with its launch slated for December 4. This approval will pave the way for Ripple to integrate its technology into NYDFS-chartered banks.

NYDFS to approve Ripple’s RLUSD stablecoin

NYDFS to approve Ripple’s RLUSD stablecoin

This stablecoin, to be known as RLUSD, will operate on both the XRP Ledger and Ethereum networks, offering diverse applications ranging from cross-border payments to tokenization and decentralized finance (DeFi).

By harnessing the capabilities of these two major blockchains, Ripple aims to seamlessly integrate traditional finance with blockchain technology, providing efficient solutions for global money transfers.

This dual-network functionality is expected to attract both institutional and retail users, ultimately bolstering the adoption of Ripple’s ecosystem.

Furthermore, XRP's role as a bridge asset in cross-border transactions positions it to benefit from increased demand driven by regulatory clarity and expanding use cases.

Ripple's latest developments reflect growing confidence in its technology and potential, as the crypto market continues to favor projects with tangible real-world applications. With the upcoming launch of RLUSD and ongoing regulatory progress, Ripple's trajectory suggests continued growth and a stronger presence in the global financial landscape.