{"id":36150,"date":"2023-07-15T17:11:50","date_gmt":"2023-07-15T21:11:50","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/xrp-overtakes-bnb-to-fourth-largest-crypto-spot-btc-trades-above-31k-as-bulls-dominate-the-market\/"},"modified":"2023-07-15T17:11:52","modified_gmt":"2023-07-15T21:11:52","slug":"xrp-overtakes-bnb-to-fourth-largest-crypto-spot-btc-trades-above-31k-as-bulls-dominate-the-market","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=36150","title":{"rendered":"XRP Overtakes BNB To Fourth Largest Crypto Spot, BTC Trades Above $31k As Bulls Dominate The Market"},"content":{"rendered":"
\n

Digital asset payment network, Ripple (XRP) has surged over 60% in the past 24 hours following its partial victory<\/u> against the Securities and Exchange Commission (SEC), putting an end to the three-year-long suit.\u00a0<\/p>\n

Since the ruling, the cryptocurrency market has recorded<\/u> a $73.5 billion increase in its market cap, a 5.7% jump as assets continue their strong rally.<\/p>\n

XRP, the center of the uphill run has skyrocketed 66.94% and trades at $0.789 at the time of writing. The asset now boasts a $41.44 billion market cap, moving past BNB to reclaim the fourth spot by market cap for the first time in two years.<\/p>\n

BNB\u2019s market value rose by 6% to 40.58 billion in the same period and exchanged hands at $254.06.\u00a0<\/p>\n

Market bulls are looking to push the upward momentum of XRP over $1, a mark it has failed to attain in years. The price of Ripple was weakened by the SEC\u2019s lawsuit losing over 50% of its value with the firm shifting plans on going public until after the case.\u00a0<\/p>\n

The renewed surge of the asset is backed by whales as wallets with more than $100,000 hit their highest point in 2023 coupled with trading volumes reaching a 10-month high.\u00a0<\/p>\n

Brian Q, an analyst at Santiment noted<\/u> that the activity of whales can sustain the surge for longer periods brushing off claims that it may be a short-term run.\u00a0<\/p>\n

\n

\u201cIf key whale and shark addresses are increasing their supply going into this pump, then it is a get foreshadowing signal that the pump may just be getting started, and it’s a sign of good things to come.\u201d<\/i><\/p>\n<\/blockquote>\n

BTC, Ether, and XLM follow XRPs lead\u00a0<\/h2>\n

Huge gains have been recorded across the market on the back of XRP\u2019s success over the SEC. Market leader Bitcoin (BTC) tapped a new yearly high of $31,686 hours after the ruling.\u00a0<\/p>\n

At press time, BTC trades at $31,168, a 2% increase in the past 24 hours. In the altcoin world, \u00a0 Stellar (XLM<\/u>) leads the charge as it continues its slight correlation with XRP.\u00a0<\/p>\n

XLM surged 55% in the past 24 hours to break into the top 20 digital assets by market cap displacing Binance USD.\u00a0<\/p>\n

Ethereum (ETH<\/u>) initially pushed past the $2,000 resistance level before recording a slight correction below the mark at $1,990.<\/p>\n

Solana (SOL<\/u>), Cardano (ADA), and Avalanche (AVAX) posted gains of 25.88%, 20.94%, and 16.44% respectively in the last 24 hours.\u00a0<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Digital asset payment network, Ripple (XRP) has surged over 60% in the past 24 hours following its partial victory against the Securities and Exchange Commission (SEC), putting an end to the three-year-long suit.\u00a0 Since the ruling, the cryptocurrency market has recorded a $73.5 billion increase in its market cap, a 5.7% jump as assets continue […]<\/p>\n","protected":false},"author":1,"featured_media":36151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-36150","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nXRP Overtakes BNB To Fourth Largest Crypto Spot, BTC Trades Above $31k As Bulls Dominate The Market | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Digital asset payment network, Ripple (XRP) has surged over 60% in the past 24 hours following its partial 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