Category: Forex News

$2.2 Billion Market Cap Boost Raises Eyebrows

By Published On: March 9, 20241.7 min readViews: 2400 Comments on $2.2 Billion Market Cap Boost Raises Eyebrows
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 startling surge, the capitalization of the renowned cryptocurrency XRP witnessed a remarkable uptick, swelling by over $2.2 billion within the initial week of March. Data sourced from CoinMarketCap unveils that XRP catapulted into the spring season, boasting a capitalization of $31.92 billion. 

Come to my page!

However, by the onset of March 8, this figure had soared to a staggering $34.2 billion. This meteoric rise translates to a noteworthy 7% surge within a mere week, an impressive feat considering the asset’s already substantial valuation.

Presently, XRP commands the position of the sixth largest crypto asset on the market. To put this into perspective, in the global hierarchy of company capitalizations, XRP would find itself nestled around the 566th spot, akin to the stature of corporate giants like Chinese tech titan Baidu and British banking stalwart Barclays.

""
XRP Market Cap by CoinMarketCap

The surge in XRP’s capitalization correlates directly with the surge in its price. Since the advent of spring, XRP has witnessed an incremental increase of nearly 7%, with the maximum surge this week marking a staggering 14%. Consequently, the token now commands a price hovering around $0.63.

While USDC and Cardano (ADA) loom closely in the market capitalization rankings, the gap between them and XRP remains substantial, measured in billions of dollars. To ascend a rank higher, XRP must surpass Solana (SOL), whose market capitalization presently exceeds a formidable $64 billion.

The astounding growth in XRP’s market cap has undoubtedly turned heads within the cryptocurrency sphere, sparking discussions about the underlying factors driving this surge. 


Source link

Discover more from BIPNs

Subscribe to get the latest posts to your email.

banner image

Written by : Editorial team of BIPNs

Main team of content of bipns.com. Any type of content should be approved by us.

Share this article:

Share your opinion. And leave a reply within the comments from below.

banner image

Discover more from BIPNs

Subscribe to get the latest posts to your email.