Ripple’s XRP has just flipped BNB, excluding the stablecoin USDT. $225 million of XRP is on the prowl.
The XRP price reached $1.766 as the holiday rally heated up. Bitcoin also made another attempt to reach $100,000. The high XRP price today is equivalent to a $100.78 billion market capitalization, surpassing exchange currency BNB at $95 billion.
Ripple’s liquidity token, which was previously worth $1.70 has now dropped to $1.70 but still ranks fourth behind Solana with $115 billion. XRP’s value increased by more than $10 billion in just a few hours, thanks to a massive 20% price increase.
The XRP army will next target Solana, with a market capitalization of $119 billion.
The XRP circulating supply market cap is the highest it has been since 2018:
One hundred thirty-nine million XRP are on the move. Is this a sign of a coming price explosion?
Whales Alert reported two large whale transactions, which involved the transfer of 35,000,000XRP ($58.286,649).
…and 104,392,571 XRP ($167,229,621)
The XRP token is attempting to regain its previous high of $3.84.
The vast majority of XRP holders, aside from those who purchased at the peak of the market back in January 2018, are now in profit. This means that there will be a profit-taking process on the way up.
The XRP market is booming, but this bull crypto market has much more to offer.
As shown in the chart (weekly bars), XRP trade volumes have rocketed up to the highest levels since 2021.
The chart below, created by Bloomberg and comparing Bitcoin’s return to the MarketVector Digital Assets Small Cap Index, an index of Altcoins, shows that the crypto rally has not yet run out of steam.
A second chart clarifies the situation even more.
The Kimchi Premium, the difference between the price of bitcoin in South Korea and the price offshore, has not reached the exaggerated levels seen when crypto trading reaches euphoric heights.
It’s not true that all retail money sits on the sidelines. It’s far from the truth. As we enter the altcoin season, the most active traders are the meme coins. A lot of this trading takes place on decentralized platforms.
The Bitcoin Kimchi premium is not a good way to capture the impact of meme coin trades, given that it is Bitcoin-centric.
XRP is not going anywhere. A $5 near-term? (by Christmas, for example?) The price target is reasonable, but Jack the Ripper wants you to vote $100.
We thought a 40-dollar price target for the XRP token was extreme, but we were wrong. $100 is completely out of the realm. At $100, XRP’s market cap would reach $10 trillion. For a realistic perspective on this wishful PT, the US debt is $36 trillion.
The tokens discussed in this article can be purchased on Best Wallet – its native token, $BEST, is currently available for presale.
To add more cryptos to your portfolio, check out The best cryptos to buy right now.
Disclaimer: This article does not constitute investment advice. It is only provided as information. Capital at risk.
