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The Defiant 2025-01-02 18:00:57

XRP Surpasses Tether as 3rd Largest Cryptocurrency with $138.4B Market Cap, Price Hits $2.42 After 15% Surge

XRP Surpasses Tether as 3rd Largest Cryptocurrency with $138.4B Market Cap, Price Hits $2.42 After 15% Surge

XRP has reclaimed its position as the third-largest cryptocurrency by market capitalization, surpassing Tether (USDT) with a market cap of $138.4 billion compared to USDT's $137.1 billion. This shift comes after a notable surge in XRP's price, which increased by 15% on January 1, 2025, reaching $2.42, as trading volumes soared by 120% to $10 billion within 24 hours. The surge in XRP's valuation is attributed to significant whale activity and Ripple unlocking 500 million XRP from escrow. Additionally, South Korea's Upbit exchange reported over $1.3 billion in XRP trading volume, contributing to the overall momentum in the market. Open interest in XRP also climbed by 25%, indicating fresh capital entering the market. Analysts are observing strong technical indicators and speculating on the potential for further gains, with some discussions around the possibility of XRP reaching $10 this year. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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