Ripple’s XRP $171B Market Cap Surge Tops USDT as Whales Accumulate Nearly $1 Billion in XRP ⋆ ZyCrypto

Ripple's XRP Explosive Price Moves Now In The Offing Amid A Red-Hot Adoption Streak By Institutions

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XRP has recorded gains following massive inflows in the market over the last five days. The asset’s run signals an altcoin surge, likened to the start of the year, which saw analysts back major coins. At the time of writing, XRP trades at $2.88, up 1.6% today, leading altcoins as the market recovers.

XRP Topples USDT Again 

XRP has displaced Tether’s USDT as the third-largest crypto asset after a previous temporary bullish performance. The altcoin posts a total market cap of $171.3 billion, while the stablecoins come in fourth with $168 billion. In the last 30 days, XRP has reduced losses heightened by the market dip. This shows consistent recovery as bulls back the market for long-term growth.

XRP’s daily trading volume is up 4% coupled with growing institutional signals for ETPs. Crypto analyst Ali Martinez highlighted a possible bull path for the asset on X. First, bulls need to defend the $2.70 support level as a cushion to break more psychological grounds. A drop below this point, even in a market dip, could lead to major retail jitters, lowering sentiments.

On the upward end, bulls need to break $2.90 before a march to $3 and a further swing to $3.72. However, analysts pointed out that this zone will be a major profit zone for several investors close to historical highs. Despite this, the price could be backed up by massive institutional inflows, especially if spot ETF products are approved in the United States. 

In previous months, XRP has topped USDT temporarily, especially as funds trickle into altcoins. USDT remains the largest stablecoin with a growing market cap amid the recent demand for these products, but XRP’s drive is fueled by heightened inflows not recorded in months. 

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Crypto enthusiast, MackAttackXRP wrote, “Is ‘Red September’ Canceled for XRP? Whales Keep Aggressively Buying the Dip. Santiment data shows XRP whales have accumulated nearly $1 billion in tokens until now. This massive buying pressure could be the catalyst to break the “September curse.”

In the last 48 hours, XRP whales have heightened purchases in addition to outflows from centralized exchanges. These factors extend positive projections for crypto products. CoinShares Digital Asset Fund Flows report shows XRP products recorded $134 million net inflows in the last seven days. This raised the asset’s total figure to $1.3 billion year-to-date.



Source: https://zycrypto.com/ripples-xrp-171b-market-cap-surge-tops-usdt-as-whales-accumulate-nearly-1-billion-in-xrp/