{"id":542698,"date":"2023-07-14T15:00:00","date_gmt":"2023-07-14T15:00:00","guid":{"rendered":"https:\/\/uniquehot.com\/?p=542698"},"modified":"2024-06-11T07:59:47","modified_gmt":"2024-06-11T07:59:47","slug":"xrp-kicks-out-bnb-to-become-4th-largest-crypto","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ripple\/xrp-kicks-out-bnb-to-become-4th-largest-crypto\/","title":{"rendered":"XRP Kicks Out BNB To Become 4th-Largest Crypto After 65% Rally"},"content":{"rendered":"

XRP, the token behind the Ripple payment network, has been on an absolute monster rally in the last day. The token has seen a 65% price surge that propelled it into the number 4 spot in the crypto rankings, pushing BNB down to 5th place, even though BNB on the other hand, is also up by 9% in the past week.<\/span><\/p>\n

XRP Overtakes BNB<\/h2>\n

XRP recently overtook<\/a> BNB after reaching a yearly high of $0.81, giving the cryptocurrency a market cap of $41 billion. The huge price spike can be attributed to investors jumping on the bandwagon with fear of missing out on XRP after the big news regarding its victory over the United States Securities and Exchange Commission (SEC).\u00a0<\/span><\/p>\n

Related Reading: Ripple Eyes Tokenized Assets Sector As It Expects Market Cap To Reach $30 Trillion<\/a><\/div>\n

The court determined on June 13 that the sale of XRP to regular investors does not constitute the sale of an unregistered security. As such, United States District Judge Analisa Torres ruled in partial favor of Ripple, saying that XRP sales on public cryptocurrency exchanges were not offers of securities under the law.\u00a0<\/span><\/p>\n

However, the judge remarked<\/a> that Ripple’s direct sale of XRP to institutional investors in the amount of approximately $700 million violated federal legislation regarding the sale of securities.<\/span><\/p>\n

This catapulted XRP’s price from $0.478 to $0.7885 in just under a day. With its current market cap, this means XRP is now the third-largest native cryptocurrency behind Bitcoin and Ethereum when the USDT stablecoin is removed.\u00a0<\/span><\/p>\n

\"Ripple<\/p>\n

XRP price still holding gains | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
24-Hour Trading Volume Spikes 1700%+<\/h2>\n
According to data from Coinmarketcap, XRP\u2019s 24-hour trading volume has spiked a whopping 1,758.13% to over $13.49 billion. Trading volumes have surged on various exchanges, where Upbit, the South Korean-based crypto exchange, had over $2.7 billion in 24-hour trading volume. Binance also saw over $2.3 billion in trading volume as investors scurried to buy XRP.\u00a0<\/span><\/p>\n
Coinglass data<\/a> shows more than $35 million short position trades on XRP have been liquidated in the past 24 hours. Most of these are from Bybit, OKX, and Binance, with $21 million, $14 million, and $14 million in short position liquidations, respectively.<\/span><\/p>\n
Of course, fast price rises often end in pullbacks as XRP remains a volatile digital asset. But its recent breakout shows it\u2019s still an altcoin to watch, with the potential for even bigger gains if more investors continue to FOMO. However, XRP\u2019s potential for long-term growth continues to be supported by Ripple Labs\u2019 real-world value as a payments network.<\/span><\/p>\n
Related Reading: Fund Manager Vanguard Increases Stake In Bitcoin Mining Stocks To $600 Million<\/a><\/div>\n
At the time of writing, XRP is still trading at $0.797, which translates to 68% gains in the last day. It is currently the top gainer<\/a> in the market with 70.66% and 56.79% gains in the last seven and 30 days, respectively.<\/p>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
XRP, the token behind the Ripple payment network, has been on an absolute monster rally in the last day. The token has seen a 65% price surge that propelled it into the number 4 spot in the crypto rankings, pushing BNB down to 5th place, even though BNB on the other hand, is also up by 9% in the past week. XRP Overtakes BNB XRP recently overtook BNB after reaching a yearly high of $0.81, giving the cryptocurrency a market cap of $41 billion. The huge price spike can be attributed to investors jumping on the bandwagon with fear of missing out on XRP after the big news regarding its victory over the United States Securities and Exchange Commission (SEC).\u00a0 Related Reading: Ripple Eyes Tokenized Assets Sector As It Expects Market Cap To Reach $30 Trillion The court determined on June 13 that the sale of XRP to regular investors does not constitute the sale of an unregistered security. As such, United States District Judge Analisa Torres ruled in partial favor of Ripple, saying that XRP sales on public cryptocurrency exchanges were not offers of securities under the law.\u00a0 However, the judge remarked that Ripple’s direct sale of XRP to institutional investors in the amount of approximately $700 million violated federal legislation regarding the sale of securities. This catapulted XRP’s price from $0.478 to $0.7885 in just under a day. With its current market cap, this means XRP is now the third-largest native cryptocurrency behind Bitcoin and Ethereum when the USDT stablecoin is removed.\u00a0 XRP price still holding gains | Source: XRPUSD on Tradingview.com 24-Hour Trading Volume Spikes 1700%+ According to data from Coinmarketcap, XRP\u2019s 24-hour trading volume has spiked a whopping 1,758.13% to over $13.49 billion. Trading volumes have surged on various exchanges, where Upbit, the South Korean-based crypto exchange, had over $2.7 billion in 24-hour trading volume. Binance also saw over $2.3 billion in trading volume as investors scurried to buy XRP.\u00a0 Coinglass data shows more than $35 million short position trades on XRP have been liquidated in the past 24 hours. Most of these are from Bybit, OKX, and Binance, with $21 million, $14 million, and $14 million in short position liquidations, respectively. Of course, fast price rises often end in pullbacks as XRP remains a volatile digital asset. But its recent breakout shows it\u2019s still an altcoin to watch, with the potential for even bigger gains if more investors continue to FOMO. However, XRP\u2019s potential for long-term growth continues to be supported by Ripple Labs\u2019 real-world value as a payments network. Related Reading: Fund Manager Vanguard Increases Stake In Bitcoin Mining Stocks To $600 Million At the time of writing, XRP is still trading at $0.797, which translates to 68% gains in the last day. It is currently the top gainer in the market with 70.66% and 56.79% gains in the last seven and 30 days, respectively. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":542720,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[11427,79524,3680,4531,13172,10972],"class_list":["post-542698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-bnb","tag-bnbusd","tag-ripple","tag-xrp","tag-xrp-price","tag-xrpusd"],"acf":[],"yoast_head":"\nXRP Kicks Out BNB To Become 4th-Largest Crypto After 65% Rally<\/title>\n<meta name=\"description\" content=\"XRP, the token behind the Ripple payment network, has been on an absolute monster rally in the last day. 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"XRP Kicks Out BNB To Become 4th-Largest Crypto After 65% Rally","url":"http:\/\/uniquehot.com\/news\/ripple\/xrp-kicks-out-bnb-to-become-4th-largest-crypto\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ripple\/xrp-kicks-out-bnb-to-become-4th-largest-crypto\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1305769484.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1305769484.jpg?fit=2250%2C1332"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bnb","bnbusd","ripple","xrp","xrp price","xrpusd"],"dateCreated":"2023-07-14T15:00:00Z","datePublished":"2023-07-14T15:00:00Z","dateModified":"2024-06-11T07:59:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"XRP Kicks Out BNB To Become 4th-Largest Crypto After 65% Rally\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-kicks-out-bnb-to-become-4th-largest-crypto\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ripple\\\/xrp-kicks-out-bnb-to-become-4th-largest-crypto\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1305769484.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/iStock-1305769484.jpg?fit=2250%2C1332\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bnb\",\"bnbusd\",\"ripple\",\"xrp\",\"xrp price\",\"xrpusd\"],\"dateCreated\":\"2023-07-14T15:00:00Z\",\"datePublished\":\"2023-07-14T15:00:00Z\",\"dateModified\":\"2024-06-11T07:59:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/iStock-1305769484.jpg?fit=2250%2C1332","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/542698","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=542698"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/542698\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/542720"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=542698"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=542698"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=542698"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}