XRP's market capitalization exceeded $117 billion at the time of writing, attracting the attention of analysts and investors.
It is now one of the best performing cryptocurrencies as it has gained over 47% in the last 7 days, crossing the $2 mark.
XRP has already overtaken Binance Coin (BNB) to become the fifth largest cryptocurrency, and on December 1, it overtook Solana, taking the position of the 4th largest cryptocurrency by market capitalization.
Other market observers share a rather optimistic view. Analyst “Egrag Crypto” predicts that XRP could reach $20-$27 if it repeats its 2017 bull run when it reached its all-time high (ATH) at $3.8.
XRP’s recent performance and its market capitalization of $117 billion mark a key milestone for the cryptocurrency. With targets ranging from $5 to $18 and growing investor confidence, it may be poised for a historic breakout.
The coming weeks will be crucial as XRP works to maintain its momentum and chase new all-time highs, attracting significant attention from the market.
Ethereum investors who bought at higher price levels are now struggling to inject new capital into the market, raising doubts about the cryptocurrency’s ability to regain momentum, according to Chinese on-chain analyst Murphy.
Dogecoin’s network has seen a massive uptick in activity, with the number of active addresses skyrocketing by 400%, according to blockchain analytics.
Ella Zhang, head of YZi Labs (formerly Binance Labs), has observed a noticeable change in crypto investment patterns.
21Shares has decided to shut down its Bitcoin and Ethereum futures ETFs, with liquidation expected to take place by March 28.