Ripple Breaks 42 Month High as XRP Flips BNB in Market Cap Value

 
Niharika Deshpande
Written By 
Niharika Deshpande
November 29, 2024

Ripple’s cryptocurrency token XRP has recently surged to $1.66, marking a price level not seen in over 42 months. This rally has helped the XRP token to sur Binance Coin (BNB) in market capitalization, positioning it as fifth-largest cryptocurrency by market cap. The sudden surge is all because of the whale activity that was recently observed and the growing optimism.

XRP’s current market cap stands at around $95 billion, suring BNB’s market cap of approximately $94 billion, marking a significant shift in the market rankings.

Ripple’s XRP flips BNB Coin in Market Cap (Source: CoinMarketCap)

Whale Activity Fuels Price Rally

XRP recently has been seeing a significant whale activity. Almost an hour ago from the press time, a notable transfer of 104,392,571 XRP worth $167,229,621 was made from an unknown wallet to a new unknown wallet. 

Whale Alert has reported several large XRP transactions which include both large accumulations and sell-offs to exchanges such as Bitstamp and Binance, indicating mixed market sentiments. The large transactions indicates the increasing confidence within Ripple’s XRP token, while sell-off indicate the hesitancy amongst the investors.

Year-End Prediction for Ripple’s XRP

Market analysts remain optimistic about XRP’s future. Short-term predictions suggest that if the XRP continues the same trajectory, by the end of the year the token could reach $2.00 per token. Long-term predictions suggest that the XRP token can reach up to $4.00-$5.00 in early 2025, if this momentum continues and if there are any more developments in the Ripple vs. SEC case.

XRP 24 Hours Chart (Source: CoinMarketCap)

At press time, the XRP token price stands at $1.66 with a surge of approximately 14.25% in the last 24-hours.

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Niharika Deshpande
Written by Niharika Deshpande

Niharika has over two years of experience as a crypto-journalist and is part of the team at CryptoNewsZ. Although she holds a Master’s in Biochemistry, she has a knack for simplifying complex blockchain concepts. With a keen eye for industry trends, she delivers breaking stories and insightful analyses of the crypto world. Her articles serve as a go-to resource for those navigating crypto gambling, offering clear and well-researched insights. She also covers the latest crypto pre-sales and emerging token launches, helping investors stay informed. ionate about the evolving blockchain space, she continues to explore its impact on various sectors. Beyond journalism, she actively engages with the crypto community, fostering discussions on decentralized innovations.