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XRP News: Unexpected Surge Lets Ripple Hit an Important Milestone

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XRP News

For some time now, a lot of experts have been claiming that something is about to happen in the crypto world. Numerous markets started gaining value, while others began losing. Amid all the speculations, the crypto community experienced another exciting twist, where Ripple managed to overgrow Ethereum in terms of the market cap once again.

XRP overtakes Ethereum for the second time in 2018

At the time of writing, Ripple (XRP) is actually the second largest crypto, with its market cap exceeding that of Ethereum for around $200M. The growth came suddenly, and it began in the last 24 hours when XRP news reported that Ripple value broke through $0.5 resistance.

At the time of writing, XRP price is at $0.554132, with a massive 20% increase. This is not the first time that Ripple has experienced a price surge of this size, nor the first time in the last few months that it managed to replace ETH as the second largest crypto. This type of behavior is usually followed by ETH rising even more, and reclaiming its position. Soon after that, things would go back to normal.

However, the growth does come as a surprise, mostly because there were no indications that something like this would happen. Contrary to the expectations, Ripple held on to a price of $0.46 for weeks, and many have taken this as a sign of stability. Now, Ripple is snowballing once more.

A lot of investors have started wondering if this is an official start of a real bull run, similar to the one of late 2017. If so, then this XRP news may only be the beginning. Right now, all of the top 20 cryptocurrencies apart from Tether (USDT) are trading in the green. The same is true for most altcoins in the top 50.

It is currently unknown whether this trend will continue, or will it simply weaken and die down. This is certainly the kind of development that the community has been hoping for, for a while. It is also unknown what has caused the price surge, although some believe that the addition of a new margin trading pair between Ripple and Bitcoin on OKEx might be the reason. Some say recent XRP CMC listing is responsible. Perhaps OKEx is only the spark that started the surge, while XRP has been preparing for it during the last several weeks.

Another thing that is expected to arrive is some sort of backlash on social media. Ripple is a cryptocurrency that has had its fair share of controversies, especially throughout 2018. Because of that, many would use an opportunity like this one to share their view on this asset.

For now, Ripple continues to grow. The community would like to know where its price is going to end up, but to achieve that, they will simply have to be patient. Things currently look pretty charming for XRP (as well as the rest of the market), and a lot of investors will be entirely pleased if its price remains above $0.5 once everything calms down.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Crypto

BNB Price Surges Past $300, Faces Crucial $339 Hurdle: What’s Next?

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BNB price has noted significant gains over the past few days, surging past the psychological resistance of $300. The native cryptocurrency of the Binance Exchange has surpassed Solana to regain its position as the fourth-largest cryptocurrency by market cap. The digital currency has been rallying lately with a 7-day profit of more than 15%. Additionally, BNB has clocked a phenomenal gain of 38% in the month to date.

Binance Coin Outlook

BNB price has been on a strong bull run for the past week, breaking out of its consolidation. Even so, the asset has experienced a correction in its uptrend over the past 24 hours but remains above the crucial level of $300. BNB’s total market cap has decreased by 4% over the past day to $48 billion, while the total volume of the asset traded over the same period dipped by about 15%.

Over the past year, Binance Coin has had to cope with Fear, Uncertainty, and Doubt (FUD)  on the back of the regulatory troubles of its underlying exchange. Earlier, the BNB price touched a low of $223.50, a few days after its former CEO, Changpeng Zhao, pleaded guilty to money laundering charges. However, the cryptocurrency has managed to rebound 46% in value since then.

The recent price rally has been associated with various positive developments in the Binance ecosystem, including the Introduction of the Isolated Margin Auto-Transfer Mode. This feature enables…

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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