4th January 2025 – (New York) Ripple Labs’ XRP has regained its status as the third most valuable digital asset, currently trading at $2.42 per token. This significant rise comes after a remarkable 13.46% increase in value over the past week, which has seen its market capitalisation swell by more than $20 billion, reaching a total of approximately $141.12 billion.
Recent positive developments in Asia have greatly enhanced investor confidence, allowing XRP to surpass Tether’s market capitalisation of $137 billion. This resurgence follows a competitive battle throughout December, where XRP and USDT vied for the third position. Although XRP faced a downturn, recent news has propelled it back into the spotlight.
In a noteworthy development, reports indicated that up to 80% of Japan’s banking sector is likely to adopt XRP for cross-border payments. This news surfaced when XRP was trading at $2.17, just days after it had already appreciated by 11.52%. The market’s confidence in this potential deal between Ripple Labs and Japanese banks has significantly boosted XRP’s value.
Looking back at historical performance, XRP’s current trading level around the $2.40 mark has proven to be pivotal. This zone has acted as both support and resistance, particularly noted during 2018 when the currency peaked at $3.32. Analysts are optimistic about the possibility of another major rally as key developments unfold in the United States.
The cryptocurrency market is poised for heightened volatility with the upcoming inauguration of Donald Trump on January 20, as well as the resignation of SEC Chair Gary Gensler, who has been viewed as a significant barrier to cryptocurrency development. Since the election, XRP has been one of the fastest-growing cryptocurrencies, largely due to its public opposition to Gensler.
Additionally, a recent transaction noted by Whale Alert marked the first substantial XRP transfer of 2025, involving 500 million XRP valued at over $1 billion. This transfer was initiated by Ripple and has drawn attention amidst the typical monthly unlocks by the company.
Ripple’s CEO, Brad Garlinghouse, recently expressed his enthusiasm for 2025, stating that momentum and focus on real-world utility continue to build. Despite ongoing legal challenges, Ripple has achieved significant milestones, including entering the stablecoin market and surpassing USDT’s market cap.
© 2021 DimSum Daily. ALL RIGHTS RESERVED.
© 2021 DimSum Daily. ALL RIGHTS RESERVED.