In a surprising increase, the capitalization of the renowned cryptocurrency XRP saw a notable increase, rising by more than $2.2 billion in the first week of March. Data obtained from CoinMarketCap reveals that XRP catapulted into the spring season, with a capitalization of $31.92 billion.
In a surprising increase, the capitalization of the renowned cryptocurrency XRP saw a notable increase, rising by more than $2.2 billion in the first week of March. Data obtained from CoinMarketCap reveals that XRP catapulted into the spring season, with a capitalization of $31.92 billion.
However, by early March 8, this figure had skyrocketed to a staggering $34.2 billion. This meteoric rise translates to a notable 7% increase in just one week, an impressive feat considering the asset’s already substantial valuation.
Currently, XRP occupies the position of the sixth largest crypto asset in the market. To put this in perspective, in the global hierarchy of company capitalizations,
The increase in XRP capitalization is directly correlated with the increase in its price. Since the arrival of spring, XRP has witnessed an incremental rise of almost 7%, with this week’s peak rise marking a staggering 14%. Consequently, the token is now priced around $0.63.
While USDC and Cardano (ADA) rank high in the market capitalization rankings, the gap between them and XRP remains substantial, measured in billions of dollars. To climb a higher rank, XRP must surpass Solana (SOL), whose market capitalization currently exceeds a formidable $64 billion.
The staggering growth of XRP’s market capitalization has certainly raised eyebrows within the cryptocurrency sphere, sparking debates about the underlying factors driving this rise.
