XRP Adds $2 Billion to Market Cap as XRP Price Suddenly Pumps

XRP Adds $2 Billion to Market Cap as XRP Price Suddenly Pumps

Tue, 9/04/2024 – 14:32

XRP Adds $2 Billion to Market Cap as XRP Price Suddenly Pumps
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In a significant development today, XRP has experienced an unexpected surge, resulting in a remarkable $1.7 billion increase in its market capitalization within a brief span of four hours. Analysis from CoinMarketCap indicates a swift ascent from $33.21 billion to an impressive $35.3 billion, marking a notable milestone for the digital asset.

Advertisement

The surge in XRP’s market capitalization was propelled by a sharp uptick in its price, surging from $0.588 to $0.643, signifying a noteworthy 6.76% increase. This surge positions XRP prominently among the most profitable large-scale crypto assets of the last 24 hours, garnering considerable attention and interest across trading platforms.

""
XRP’s Market Cap by CoinMarketCap

XRP in top 600

Accompanying the surge in price, there was an increase in trading volumes, further highlighting the heightened activity surrounding XRP. CoinMarketCap data reveals a 54.46% rise in spot trades, totaling a substantial $2.44 billion, while CoinGlass reports a significant 78.76% surge in derivatives trading, reaching $2.29 billion. 

This surge collectively contributed to a total trading volume exceeding $4.7 billion within a 24-hour period, indicative of fervent activity in token trading.

With its market capitalization now standing at $35.3 billion, XRP assumes a prominent position within the global financial landscape, surpassing esteemed corporations such as Electronic Arts, RyanAir and Baker Hughes.

This places XRP among the top 600 companies globally. In the cryptocurrency hierarchy, XRP presently holds sixth place, nestled between Solana (SOL) and USD Coin (USDC).

Published at Tue, 09 Apr 2024 15:36:00 +0200

Previous ArticleNext Article

Leave a Reply

Your email address will not be published.