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Ripple celebrates an extraordinary month: XRP records a monthly growth of 235%, surpassing BNB and reaching a market capitalization of $100 billion. It is now among the top five cryptocurrencies by overall value.
Let’s see all the details in this article.
Record November: Ripple overtakes BNB and returns among the giants of the crypto market
The cryptocurrency market has experienced weeks of unprecedented excitement, marking new historical milestones. Bitcoin is approaching the threshold of $100,000, while the overall market capitalization of the sector has surpassed a historical high of $3.5 trillion.
Even memecoins, often underestimated, have reached an impressive capitalization of $130 billion, surpassing even global companies like Nike.
Among the protagonists, Ripple has finally found its moment of glory. After months of legal uncertainty due to disputes with the SEC, XRP has recorded a growth of 235% on a monthly basis.
Specifically reaching a price of $1.70, the highest value since May 2021. This bull has pushed XRP into the top 5 most capitalized cryptocurrencies, surpassing BNB, the coin of Binance, the largest exchange in the world.
The recent boom of XRP can be attributed to several factors, but the most significant change was the announcement of the resignation of Gary Gensler, chairman of the SEC,
forecasted for January 2025.
This news has infused optimism into the market, considering that Gensler’s leadership has been characterized by a strict approach towards criptovalute, including Ripple.
The change of guard within the SEC was met with enthusiasm by investors, who see in this event an opportunity for more favorable regulation.
Furthermore, the introduction of spot ETFs dedicated to altcoins is eagerly anticipated, a step that could revolutionize the sector.
WisdomTree, one of the leading asset managers in the world with over $100 billion under management, has already submitted an application for a spot ETF on XRP, indicating a growing institutional interest.
Future prospects for XRP
With a market capitalization that has reached $100 billion, XRP is therefore in a position of strength to face the coming months.
The next technical target is surpassing the $2 threshold, an important psychological level.
Analysts predict that, once this hurdle is overcome, XRP could quickly approach its all-time high of $3.3, recorded during the bull cycle of 2017/2018.
The growing adoption and the improvement of regulatory conditions could further support the rally. With the potential arrival of spot ETFs, Ripple could further consolidate its leadership position in the cryptocurrency sector.
In other words, Ripple’s journey is emblematic of the resilience of the crypto sector. From months of legal uncertainties to a spectacular growth, XRP confirms itself as one of the most dynamic and promising cryptocurrencies of the moment.
With a more favorable regulatory future and innovations like spot ETFs on the horizon, Ripple seems ready to write a new chapter of success.
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