{"id":19084,"date":"2024-12-02T10:51:01","date_gmt":"2024-12-02T08:51:01","guid":{"rendered":"https:\/\/forklog.com\/en\/xrp-reaches-2-5-enters-top-three-by-market-capitalisation-amid-high-leverage-concerns\/"},"modified":"2024-12-02T10:51:01","modified_gmt":"2024-12-02T08:51:01","slug":"xrp-reaches-2-5-enters-top-three-by-market-capitalisation-amid-high-leverage-concerns","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/xrp-reaches-2-5-enters-top-three-by-market-capitalisation-amid-high-leverage-concerns\/","title":{"rendered":"XRP Reaches $2.5, Enters Top Three by Market Capitalisation Amid High Leverage Concerns"},"content":{"rendered":"<p>On the morning of December 2, XRP&#8217;s price hit a seven-year high at $2.498, displacing the stablecoin USDT from the third position in market capitalisation ($136.2 billion). The day before, the asset surpassed Solana.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1334.webp\" alt=\"1-1334\" class=\"wp-image-246480\"\/><figcaption class=\"wp-element-caption\">Hourly chart of XRP\/USDT on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/XRPUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>XRP&#8217;s daily growth reached 27.8%. Over the past 14 days, the asset has increased by 105.5%, and over the month \u2014 by 365.8%.<\/p>\n<p>Besides the anticipation of a leadership change at the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> and the potential end of the lawsuit against Ripple, optimism was bolstered by Christopher Giancarlo, a candidate for the role of &#8220;crypto czar.&#8221; He <a href=\"https:\/\/www.foxbusiness.com\/video\/6365224912112\">suggested<\/a> that the agency might eventually withdraw the lawsuit.<\/p>\n<p>Market participants are also hopeful for the expansion of crypto-ETFs to include XRP-related products. On November 1, 21Shares submitted a corresponding application to the Commission. WisdomTree will <a href=\"https:\/\/cointelegraph.com\/news\/wisdomtree-files-xrp-etf-delaware\">compete<\/a>. Previously, proposals from Canary Capital and Bitwise were included in this list.<\/p>\n<p>As a new driver, hopes have risen for the potential launch of the RLUSD stablecoin by the company as early as December 4. According to informed sources at <a href=\"https:\/\/www.foxbusiness.com\/markets\/ripple-poised-new-york-approval-stablecoin-set-enter-regulated-us-crypto-market\">FOX Business<\/a>, the company has been notified by the <span data-descr=\"New York State Department of Financial Services\" class=\"old_tooltip\">NYDFS<\/span> about the upcoming registration of the token.\u00a0\u00a0<\/p>\n<p>In August, justifying the initiative&#8217;s feasibility, Ripple referred to Bernstein analysts&#8217; forecast of the segment&#8217;s market capitalisation growth to $2.8 trillion in the coming years.<\/p>\n<p>CryptoQuant analysts warned of risks. The last time after a similar pump, the price experienced a 17% correction.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? <a href=\"https:\/\/twitter.com\/search?q=%24XRP&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$XRP<\/a> is experiencing a Leverage-Driven Pump!<\/p>\n<p>Open Interest is up 37% already\u2014watch for volatility. The last similar event led to a -17% drawdown.<\/p>\n<p>Stay sharp, manage risk accordingly.<a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&#038;ref_src=twsrc%5Etfw\">#XRP<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&#038;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&#038;ref_src=twsrc%5Etfw\">#Ripple<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Onchain?src=hash&#038;ref_src=twsrc%5Etfw\">#Onchain<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Futures?src=hash&#038;ref_src=twsrc%5Etfw\">#Futures<\/a> <a href=\"https:\/\/t.co\/Femb2xQKDH\">pic.twitter.com\/Femb2xQKDH<\/a><\/p>\n<p>\u2014 Maartunn (@JA_Maartun) <a href=\"https:\/\/twitter.com\/JA_Maartun\/status\/1862537501400822085?ref_src=twsrc%5Etfw\">November 29, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/currencies\/XRP\">Coinglass<\/a>, open interest in XRP futures soared to ~$3.99 billion. A week ago, the figure was $2.34 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/2-962.webp\" alt=\"2-962\" class=\"wp-image-246481\"\/><figcaption class=\"wp-element-caption\">Data: Coinglass.<\/figcaption><\/figure>\n<p>On November 29, XRP reached the fifth position by market capitalisation.<\/p>\n<p>From November 17 to 23, cryptocurrency-based funds received $15 million \u2014 a third of the total amount since the beginning of the year.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the morning of December 2, XRP&#8217;s price hit a seven-year high at $2.498, displacing the stablecoin USDT from the third position in market capitalisation ($136.2 billion). The day before, the asset surpassed Solana. Hourly chart of XRP\/USDT on Binance. Data: TradingView. XRP&#8217;s daily growth reached 27.8%. Over the past 14 days, the asset has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1145,36,112,1654,807],"class_list":["post-19084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-market-analysis","tag-regulation","tag-ripple","tag-rlusd","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19084","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=19084"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/19084\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/19083"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=19084"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=19084"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=19084"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}