XRP beats Binance USD in market cap
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Bullet point: XRP has surpassed BUSD, SOLANA, DOGE, CARDANO by market capitalization.

After a long time consolidation of Bitcoin, Monday morning started bullish as the crypto market illuminated green.

Apart from the normal increase in price due to bullishness, XRP gained another victory by climbing above other ALTs to gain sixth position by market capitalization.

Reports from coinmarketcap showed the market capitalization of XRP as $17.63 billion.

This new development by XRP made it to surpass Binance USD stablecoin, Cardano (ADA), Solana (SOL) and Dogecoin (DOGE) by huge billions of dollars.

The  sixth spot acquisition by XRP can be visualised from the huge 20% weekly increase in its price, where 8percent comes from today’s bullish momentum, utoday revealed.

Why this move from XRP?

The whole reason is still faint but from analysis, XRP price grew more from fundamental analysis.

Fundamentally, the final clearing of Jed McCaleb’s wallet, who is known for selling XRP at key token price levels could be a  bullish cause.

Also, the SEC lawsuit against Ripple was a blessing in disguise for XRP, and is also a positive impact as well.

We can still throw little accolade on the development of the XRPL ecosystem, as it was an impact to the achieved course.

Technically,  after the huge capitulation of XRP in early June, XRP went into a long accumulation zone from  $0.3 to $0.375 range.

XRP 1day chart - Trading view
XRP 1day chart – Trading view

There was no where else for XRP to go, so a bullish momentum had been envisioned since capitulation point.

What to expect from this

Sequel to the achieved trend, more eyes will be on XRP leading to an increase in FOMO(Fear of missing out).

More people will come into XRP and the market capitalization will be in an uptrend with equivalent price momentum.

By Meekness Nnoka

Blockchain Analyst & Writer with top-notch Technological background. Enjoys reading and writing fascinating crypto contents. 4 years content creating experience.

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