- XRP bounced 23.2% in a day, raising its market value to $132.8 billion and overtaking Tether (USDT) in rankings.
- XRP dominated Upbit’s trading action, with $3.69 billion in trades, representing 27.35% of the total volume.
- XRP contacted a price of $2.45, achieving an FDV of $244.07 billion despite legal challenges.
Just recently, XRP has brought its position in the crypto industry, surpassing Tether (USDT) to become the third ranking digital asset by market value. XRP now tracks Bitcoin and Ethereum in the overall market cap.
Trading Volume Dominance on Upbit and SEC Recovery
XRP’s rise was emphasized by its trading activity on Upbit, South Korea’s largest crypto exchange as noted by WuBlockchain via the X platform. The asset added 27.35% of the Upbit total trading volume over the past 24 hours, with $3.69 billion worth of XRP changing hands while BTC and ETH recorded lower trading volumes of $339 million and $225 million, respectively.
XRP’s market value has surpassed USDT, becoming the third largest cryptocurrency by market value, second only to BTC and ETH. XRP’s daily trading volume on Upbit, South Korea’s largest exchange, reached $3.69 billion, accounting for 27.35%. During the same period, BTC’s trading…
— Wu Blockchain (@WuBlockchain) December 2, 2024
The current performance of XRP marks a recovery from its lowest point during the U.S. Securities and Exchange Commission (SEC) lawsuit period when its price fell to $0.1037. The ongoing legal challenges have not hindered the cryptocurrency’s ability to attract investor confidence and market interest.
Market Rankings and Achievements
XRP recorded a sharp price increase of 23.2% in a single intraday, exceeding the $2 mark before standing at $2.33. This surge has driven its total market value to $132.8 billion, exceeding SOL.
According to CoinMarket Cap, the price movement shows consistent upward momentum, reaching a peak of $2.45 at the time of writing. XRP’s fully diluted valuation (FDV) totals $244.07 billion. The volume-to-market cap ratio was recorded at 20.98%, emphasizing heightened trading activity within the analyzed period.
Source: CoinMarket cap
With its latest gains, XRP has picked its place as one of the top three cryptocurrencies by market value. This milestone underscores its competitive position in a market heavily dominated by Bitcoin and Ethereum. Additionally, the cryptocurrency’s ability to outperform Solana and USDT in market capitalization reflects its robust market performance amid fluctuating conditions.
