XRP's market capitalization surpassed $100 billion on Friday, reaching its highest level since January 2018 and overtaking BNB to become the fifth-largest crypto asset by market value, according to CoinGecko data.
Key Takeaways
XRP’s market capitalization surpassed $100 billion on Friday, reaching its highest level since January 2018.
The token’s price surged 18% to $1.8 in the last 24 hours, making XRP the fifth-largest crypto asset by market value.
XRP’s massive gains are primarily attributed to Donald Trump’s pro-crypto stance and SEC Chair Gary Gensler’s resignation.
The token broke above $1 for the first time since November 2021 after Gensler hinted at resignation.
Positive developments in the stablecoin roadmap, Ripple’s business expansion, and increasing institutional adoption are also contributing to XRP’s price surge.
If bulls continue to dominate, XRP could reach $1.90 or even $2, but the recent price increase is mainly driven by leveraged trading, which can lead to short-term price corrections.
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