With a massive rise in the price value of XRP, the native digital currency of Ripple has also seen significant growth in its market capitalization jumping high to $153 billion slightly more than Tether’s market capitalization. This helped XRP overtake Tether’s USDT and take the third position in terms of market cap, as per data from CoinMarketCap.
XRP Secures Third Spot With $153.02 Billion Market Cap
XRP started a potential bullish rally this month when it broke the key resistance of $2.25 and registered its two-month high of $2.62. This rally helped the digital currency outshine USDT by market cap. With over $153 billion market cap, XRP is the third biggest digital currency in the world.
Source: CoinMarketCap
As of the time of writing, the market capitalization of Tether’s USDT is hovering at around $150 billion which is less than that of Ripple. Bitcoin and Ethereum are still holding their top two spots respectively in terms of market cap.
XRP/KRW Trading Volume Cross $1.2 Billion Within 24 hours
This jump in the market cap of XRP has come as a result of massive increase in the trading volume of XRP/KRW pair across different South Korean digital currency exchanges. The total trading volume involving this trading pair crossed the figure of $1.2 billion over the course of the last 24 hours.
This massive spike in the trading volume of XRP/KRW pair involved two of the major South Korean cryptocurrency exchanges Bithumb and Upbit. The Upbit digital currency exchange saw 18.34% of the trading volume on its platform while on the other hand, the Bithumb crypto exchange saw 18.02% of the total trading volume of XRP/KRW.
XRP is continuously trading in the greenish zone at the moment. As of the time of writing, XRP’s price value is trading at around $2.61 with a positive change rate of 0.22% in the past 24 hours. With this bullish momentum, it is all set to go higher.