XRP par-ci … Ripple par there … This was the leitmotif of this weekend on the favorite social network of crypto bros:
A spectacular rise which revives the euphoria around Ripple. But behind the impressive gains and Ripple ETF rumors may well hide a minefield. So, speculative bubble or lasting revolution? Complete decryption this morning, to accompany your coffee.
- XRP surpassed Solana to become the third largest cryptocurrency by market capitalization, reaching $122 billion.
- XRP's surge is attributed to factors such as the approval of a Ripple stablecoin in the United States and the anticipation of a potential ETF.
Solana dethroned: XRP establishing itself as the new favorite of investors?
Since the December 1, 2024XRP is making headlines. Especially his course performance. XRP market capitalization soars to $122 billionsurpassing Solana at $111.9 billion.
With an increase of 300% in one month, XRP becomes the third crypto asset, just behind Bitcoin and Ethereum.
Meanwhile, Solana tries to limit the damage, suffering a drop in 3,45 % over the day. A fall which accentuates the contrast with the rise of XRP, but which does not remain worrying for the SOL. Let's reassure ourselves.
For Ripple’s XRP a hit?
The arguments are numerous. First of all, the recent news with the approval of a stablecoin made in Ripple in the USA, the RLUSD Satblecoin.
Ripple's partners, as numerous, are among the elements that can carry the token.
The prospect of an ETF (exchange traded fund) also attracts everyone's desire. Some cases are pending such as those of WisdomTree, 21Shares, and other asset managers who have filed requests with the SEC.
If the ETF is validated, XRP could become a mainstream financial product, accessible to millions of traditional investors.
Is Elon Musk blowing up Ripple's token?
Impossible to talk about this weekend pump without addressing the rumor that accompanies it. Elon Musk reportedly mentioned an XRP ETF and mentioned a significant investment.
Although no proof exists, this simple hypothesis was enough to ignite the markets.
“Elon Musk was asked about XRP! Pay attention to his nervousness, Musk's response was as unexpected as it was revealing, Why can billionaires support Bitcoin and Dogecoin but can't talk about XRP? Think about it. The silence says everything. »
While Solana seems to be losing ground and healthily correcting its course after a great surge, XRP seems to be enjoying equally explosive growth. Let's not forget, as usual, the good foundations and other healthy habits.
Unverified rumors, open interests (37% in 24 hours according to CryptoQuant) are all elements that fuel sharp rises and equally brutal falls.
