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Ripple XRP Surpasses Tether (USDT), Eyes $8 Following RLUSD Stablecoin Launch
The crypto market has witnessed a significant shift in the last 24 hours, with Ripple’s XRP surpassing Tether (USDT) to reclaim its position as the third-largest cryptocurrency by market capitalization. This sudden surge comes in the wake of Ripple’s newly launched stablecoin, RLUSD.
As reported earlier today, the RLUSD stablecoin has gone live, sparking a frenzy among investors and analysts alike. The news has sent shockwaves throughout the crypto space, with XRP’s price skyrocketing to $2.70, representing a 15% increase in just one day. This significant uptick has not only surpassed Tether (USDT) but also signals a major shift in market sentiment.
The market capitalization of XRP now stands at an impressive $143 billion, eclipsing that of USDT’s valuation. The sudden surge is attributed to the strong interest and support shown by whales, with over 830 million XRP purchased within the last day alone.
Experts have taken notice of this sudden shift in sentiment, and many are revising their previous predictions in light of these new developments. Analysts believe that XRP needs to maintain its current price above $2.52 to avoid a potential correction. However, they also foresee significant potential for growth, with some predicting the price could rise as high as $5.85 or even $8.76.
A glimmer of hope has also emerged in Ripple’s ongoing legal battle with the Securities and Exchange Commission (SEC). The impending change in leadership at the SEC has sparked optimism that a more positive outcome may be on the horizon, potentially paving the way for a settlement or an outright dismissal of the case.
As investors continue to pour into XRP, it is essential to keep a close eye on market developments. Will XRP be able to maintain its momentum and reach the predicted targets? Only time will tell.
Source: coinpedia.org
