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XRP surges 44% to reach $94.5 billion market cap
XRP has experienced a significant market rally, gaining approximately 44% to 53% over the past week and reaching a market capitalization of roughly $94.5 billion, which briefly placed it as the fourth largest cryptocurrency, overtaking BNB.
This surge has coincided with increased activity in the derivatives market. The estimated XRP leverage ratio on Binance has reached approximately 0.21, its highest level since January, signaling increased trader exposure. Futures trading volume saw a massive spike, with reports indicating $11.37 billion in volume on August 22 across major exchanges, significantly outpacing spot market trading.
In related developments, Ripple’s RLUSD stablecoin has surpassed a $2 billion market capitalization. While much of the new supply is on Ethereum, the XRP Ledger holds nearly $1 billion of the circulating supply. Additionally, Ripple recently completed a $275 million private placement of senior unsecured notes to expand its Ripple Prime institutional brokerage arm.
Despite the bullish momentum, analysts warn of potential volatility. The high concentration of long positions and elevated leverage ratios could lead to liquidations if the price faces further resistance near the $1.55 to $1.65 levels.
Entities
Binance · CoinMarketCap · Coinbase · Crypto Patel · EGRAG CRYPTO · Jeonbuk Bank · Ripple · SEC · XRP · XRP · XRP Ledger · XRP Ledger
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] XRP is trading at approximately $1.48, representing a nearly 50% increase over the last seven days. cryptonewsland.com
- [● 4 SOURCES] Ripple's RLUSD stablecoin surpassed a $2 billion market capitalization, with nearly $1 billion issued on the XRP Ledger. news.bitcoin.com · thecryptobasic.com · ambcrypto.com
- [● 2 SOURCES] Active addresses on the XRP Ledger increased by over 650% between August 10 and August 24, rising from roughly 47,180 to over 356,000.
- [○ 1 SOURCE] XRP's market capitalization reached approximately $94.5 billion, overtaking BNB to become the fourth largest cryptocurrency. www.nadanews.com
- [○ 1 SOURCE] The number of funded XRP accounts has surpassed 8 million. coinpedia.org
- [DISPUTED] Total net assets of US spot XRP ETFs reached $1.44 billion. bitcoinethereumnews.com
- [● 3 SOURCES] The estimated XRP leverage ratio on Binance climbed to approximately 0.21, its highest level since January. newsbit.nl · www.tokenpost.com · coingape.com
- [○ 1 SOURCE] XRP Futures trading volume across major exchanges reached $11.37 billion on August 22. bitcoinethereumnews.com