XRP up 7% as Market Rally Picks up Pace

XRP is maintaining its bullish outlook in the market today as its price has sustained its weekly gains to date. Per data from CoinMarketCap, XRP is trading at a spot price of $0.5293, up by 2% in the past 24 hours. In the Week-to-Date (WTD) period, XRP has soared approximately 7%, maintaining its outlook as one of the biggest gainers among the top 10 biggest coins.

XRP’s growth is backed by the other on-chain metrics it exhibits. Data shows that its volume is up 30.24% to $956,210,785, a figure that shows sustained interest in the digital currency among both retail and institutional holders.

With its new bullish outlook, XRP is now seeking a move to jump in its overall ranking and possibly displace Binance Coin (BNB). The growth in the past few weeks has been more favorable to XRP overall, with its market capitalization of $28,396,519,073 gradually closing in on the $33,344,783,162 that BNB currently boasts of.

Another crucial piece of evidence that suggests the tide may soon change between both protocols is the year-to-date (YTD) gains. While Binance Coin is reeling in losses worth 10.97% YTD, XRP has soared as high as 55.29% in that same time frame. Should this growth pace continue, the eventual flippening might not take much longer.

XRP fundamentals to watch

At this time, XRP ranks as the only altcoin with clear regulatory clarity in the United States, per a standing court ruling from Judge Analisa Torres.

With the designation that its trading on a secondary marketplace does not constitute investment contracts, XRP is billed for more adoption in the near term by both crypto-based and mainstream financial service outlets. This embrace can fuel new demands for XRP, which will in turn impact the growth of the coin in the long term.

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Godfrey Benjamin