Main navigation

XRP Makes Remarkable Comeback, Surging by $1.3 Billion in Market Cap

Wed, 04/26/2023 - 15:05
article image
Gamza Khanzadaev
XRP adds more than billion dollars in market capitalization following price recovery
XRP Makes Remarkable Comeback, Surging by $1.3 Billion in Market Cap
Cover image via

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.

Read U.TODAY on
Google News

The market capitalization of the XRP token has added more than $1.3 billion in the past 24 hours, CoinMarketCap data shows. The token's current total capitalization is estimated to be $24.88 billion, making it the fourth largest crypto asset, not including stablecoins. The maximum market capitalization of XRP is still $127.9 billion, if the data is to be believed. This historical high was reached on Jan. 5, 2018.

XRP market cap by CoinMarketCap

Ripple CTO Names One XRPL Feature He's Thrilled to See: Details

The solid increase in the figure was caused by a 6.5% rise in XRP's price from the $0.45 value where it had fallen as a result of a large-scale correction in the crypto market. All in all, as a result of this event, the price of XRP has lost more than 10.5% over the past seven days, which offset all of its action over the preceding month.

At the moment, XRP is quoted at $0.48, which at least opens the door for testing the zone around $0.55-$0.6 per token.

XRP Holders Alert: New Ripple Class Action Hearing Scheduled

The key factor determining XRP's future prospects remains the SEC's lawsuit against Ripple. As a reminder, the process will determine whether or not XRP is a security. At the beginning of the year, it was expected that the verdict would be announced by June. Even Ripple's CEO, Brad Garlinghouse, had similar expectations. Nevertheless, we are one month away from this ephemeral deadline, but there does not seem to be much advancement.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.