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XRP News: Market Cap Surpasses $100B—Is Bullish Comeback Here?

  • 30-day growth hits 238%, with YTD performance up by 182%.
  • XRP’s monthly breakout mirrors its 273% surge during 2017 rally.
  • XRP Inflows surge in November, driving price near $2 milestone.

As per latest XRP news, the coin has hit a major milestone. It surpassed a $100 Billion market cap for the first time since 2018. With a 238% surge in the last 30 days, the token is showing signs of renewed bullish momentum.

As price approaches the $2 mark, the question remains—will it break past this key resistance and repeat its historic rally from 2017?

XRP surpassed a $100 Billion market capitalization for the first time since January 8, 2018.

Currently, the token market cap is $108.69 Billion, with a healthy resurgence in investor interest as well as market activity.

XRP’s performance over the past 24 hours has seen a 3.76% rise. While the seven-day performance is up 19.09%. This makes XRP a prime example of the top leading coin in the cryptocurrency space.

Here we can see the XRP price has skyrocketed 238%, 213%, and 182% in the last 30, 90, and 365 days, respectively.

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Now it’s the 5th most market cap cryptocurrency in the market. It has a circulating supply of 57.05 billion XRP and $10.96 Billion (40% drop) 24-hour volume.

According to its fully diluted market cap, is worth abut $185.15 Billion. This equals the potential amount the company can provide.

XRP’s strong recovery and growing adoption are underlined by the milestone as market sentiment begins to tilt in XRP’s favor.

While it’s a big moment in the token performance trajectory for XRP, investors and the wider XRP community are optimistic about further growth.

XRP’s Bullish Pattern Resurfaces: Community Awaits Another Major Run

In recent XRP news monthly breakout candlestick is similar in size and momentum to a breakout candlestick in 2017 that washed the bulls in.

Tony “The Bull” Severino noticed that XRP had a historic bull run from 2017 when it grew 273.5%. This marked the beginning of its historic bull run.

The current breakout has the same strength as the XRP, which is up 271.46%, which indicates the probability of repeating its past explosive performance.

This breakout is shown in the chart above for its significance, as XRP moves on strong bullish momentum.

Traders and investors seize such patterns as a sign of market sentiment shifting to respond favorable.

XRP/USD monthly chart | Source: Trading View

The comparison points to a potential rally that could look similar to last year if things continue playing out the same.

This optimism for the XRP token has caught many within the community thinking that the token may be able to replicate what made it so successful before.

XRP is strongly bullish technically, and what’s more, there is renewed interest, getting ready for further upside and what could look like another historic rally like it did back in 2017.

XRP Inflows Surge in November, Driving Price Near $2 Milestone

As per XRP news, the coin had modest net outflows in the early part of the year, which signaled that selling pressure was above buying interest.

The price, however, was very stable during this period, meaning there was not a great deal of momentum in the market.

Consistent outflows began in April through July, indicating high selling pressure against minimal inflows in the system.

XRP’s price was kept subdued by this prolonged outflow phase, which prevented any real upward movement.

The trend took a drastic shift in late October when large inflows appeared as a result of increased buying activity.

XRP Spot Inflow/Outflow | source: Coinglass

Around the same time, XRP’s price had climbed up from under $1 to nearly $2 by the end of November.

In mid-November, the token registered its biggest inflows, which led to the token’s price rising at an accelerated pace and reinvigorating market interest.

Peak investor confidence was seen for XRP during this period, which led to the prices approaching resistance.

At the end of November, there were first identifiable outflows showing profit taking near $2.

The rally was tempered by these outflows, which showed traders locking in gains after the sharp rally and added price volatility.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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lennox gitonga
lennox gitonga
Lennox is a professional financial market analyst who's enthusiastic about blockchain, cryptos, and web3. He started blogging about cryptos back in 2019 and has since never looked back. His work revolves around looking at crypto-projects analytically on a technical and on-chain level, while also making sure it's palatable to the general audience.