The crypto market is beginning to retrieve its strength after multiple months of extreme weakness, trading consistently in the red zone and the market cap of major cryptocurrencies plunged to their lowest.
As the market volatility reduces, XRP is beginning to find its way back to critical levels as the market capitalization of XRP has jumped past $90 billion.
Although this is not the first time XRP will hit this level, it marks a major recovery from the $80 billion it reached earlier this year.
XRP surges near $1.50
As momentum appears to be returning to the crypto market, XRP might be back on track to reclaim the crucial $2.00 level.
With the past few months seeing XRP pull off only extremely weak price moves, the asset has long lost the $2.00 level, since mid-January, sparking fears about the possibility of adding a zero to its price.
Nonetheless, XRP has just surged near its one-month high of $1.50 as its market cap also reclaimed $2.00. This has stirred optimism about its potential to touch 2025 highs as Ripple continues to push its adoption across the globe.
With the current positive price movement, XRP has surged by 4.21% over the last 24 hours and it is trading at $1.47 as of writing time, with an intraday-high of $1.49.
Ripple pushes for XRP adoption
Despite the serious regulatory backlash XRP faced in previous years, the asset has finally established a strong foothold in the crypto space, gaining traction across the global space.
All of this is thanks to Ripple for its continued developments and partnerships to propel XRP into gaining mainstream adoption. Notably, the firm has majorly focused on enabling faster cross-border payments, using XRP to facilitate international transfers among corporate entities.
While XRP has consistently been in the spotlight amid Ripple’s continued developments, it has significantly bolstered XRP’s adoption and its payment infrastructure even as the market grew weak.
While the XRP community has expressed excitement about its market capitalization reclaiming $90,000,000,000, it has described the milestone as organic, with claims that it was not driven by hype but rather by its real use case, institutional infrastructure and more.
Dan Burgin
Vladislav Sopov
