A Ripple of Excitement: XRP Claims the 4th Spot
XRP, the beloved token of Ripple Labs, has catapulted itself to become the fourth largest cryptocurrency by market capitalization. Riding on the coattails of Ripple’s partial victory over the Securities and Exchange Commission (SEC) on July 13, XRP’s market cap witnessed a jaw-dropping surge of $21.2 billion in just a mere three hours. Move aside, USD Coin and Binance’s BNB token—XRP has arrived!
Breaking Records
With its newfound glory, XRP soared to reach a glorious new yearly high of $46.1 billion, dethroning competitors and leaving them green with envy. As the cryptocurrency world watches, XRP confidently outperformed Circle’s USD Coin and Binance’s BNB token, claiming its spot as the fourth largest player in the market. Who knew legal victories could taste so sweet?
Ripple’s Market Capitalization Takes a Breather
While XRP basked in its triumphant rise, Ripple’s market capitalization settled down at a cool $42.5 billion. The excitement may have subsided momentarily, but the impact of this victory resonates throughout the crypto community.
The Rise of XRP: A Courtroom Drama Unveiled
All of this began when the District Court for the Southern District of New York boldly proclaimed that the “offer and sale of XRP on digital asset exchanges did not amount to offers and sales of investment contracts.” In a high-stakes legal battle between Ripple Labs and the SEC, this verdict acted as the catalyst for XRP’s meteoric rise. Move over, Law & Order—crypto courtrooms have all the drama!
XRP Breaks Price Barriers with Style
Not content with just market capitalization glory, XRP flexed its muscles in the price department as well. In a whirlwind of euphoria, the token surged by a staggering 98% in the hours following the court decision, shooting up to an impressive $0.93. It’s safe to say that XRP is the new trendsetter in town!
Uphold’s Struggle: A Victim of XRP’s Power
The ripple effect of XRP’s victory was so intense that even U.S. crypto exchange Uphold couldn’t handle the surge in volume. In an unprecedented turn of events, Uphold suffered a temporary outage, succumbing to the overwhelming demand for XRP. It’s clear that XRP enthusiasts were determined to grab a piece of the action, even if it meant testing the limits of Uphold’s infrastructure. Cue the dramatic music!
The Reawakening of XRP: Exchanges Rally Behind the Champion
In a heartwarming display of solidarity, major U.S. exchanges such as Coinbase, Kraken, and iTrustCapital wasted no time relisting XRP. Eager to capitalize on the newfound legal clarity, these exchanges opened their doors to XRP traders, signaling a new era of support for the triumphant token. And the plot thickens!
Gemini’s Tease: A Hint of Things to Come
As the excitement continues to build, the Winklevoss-owned crypto exchange Gemini tantalizingly hints at re-listing XRP in the near future. Just when you thought the story couldn’t get any more intriguing, another player enters the scene. Will Gemini add another chapter to XRP’s remarkable tale? Stay tuned, hodlers!
Disclaimer: All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice.Please note that despite the nature of much of the material created and hosted on this website, HODL FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL FM strongly recommends contacting a qualified industry professional.
