Altcoin
XRP Price Eyes New All-Time High after Overtaking Solana, USDT With 364% Rally
The XRP price has extended its phenomenal rally over the Black Friday weekend gaining another 28% surging all the way to $2.50. This is the first time in 6 years that XRP is roaring on Satoshi Street above $2, overtaking giants like Solana and USDT for the third spot, with its market cap hitting an all-time high of $136. The 364% XRP rally in November calls for a new all-time high.
XRP Price to New All-Time High?
The XRP Price could be making a move to its new all-time high in December itself. The third-largest altcoin has achieved a significant milestone, breaking out of 84 months of stagnant price action with a single explosive XRP monthly candle.
This dramatic move marks a turning point for the cryptocurrency, potentially signaling the start of a new trend after years of consolidation. Veteran trader Peter Brandt shares a classic breakout from a flag-and-pole pattern on a multi-year timeframe.
With more than 75% weekly gains, XRP is dominating the entire altcoin space outperforming other giants like Ethereum. As a result, crypto market experts are once again stressing the need to have a spot XRP ETF in the market.
Three major firms—Bitwise, Canary, and 21Shares—have filed applications for spot XRP exchange-traded funds (ETFs), targeting the third-largest cryptocurrency by market capitalization.
Nate Geraci, the President of ETH Store believes that additional issuers are likely to join the race, with the growing interest in XRP-based investment products. Pro-XRP lawyer Jeremy Hogan believes that a spot XRP ETF could come by mid-2025.
There are currently 3 filings for ETFs holding what is now the 3rd largest crypto asset by market cap…
Bitwise, Canary, & 21Shares have all filed for spot XRP ETFs.
Guessing addn’l issuers will jump in here.
— Nate Geraci (@NateGeraci) December 2, 2024
As of press time, the XRP price is trading 27% up at $2.40 with a market cap of $136 billion. The Coinglass data shows that the XRP open interest has surged 28.67% moving all the way to $4.21 billion. Also, the 24-hour liquidations have shot up to $53 million with $38 million in short liquidations and over $14 million in long liquidations.
A Walk Down the Memory Lane When XRP Dominated Solana, USDT
The XRP price rally helped it overtake Tether (USDT) to become the third-largest cryptocurrency by market capitalization, marking a return to its pre-SEC lawsuit position. Historically, XRP held the second spot behind Bitcoin (BTC) until the SEC’s 2018 Hinman speech, which classified Bitcoin and Ethereum (ETH) as non-securities under the “sufficiently decentralized” framework. Back then it was trading much above other rivals like Solana, USDT, BNB Coin, etc.
Ethereum’s market cap surpassed XRP’s in November 2018, reshaping the crypto rankings. XRP’s recent surge now revives its position among the top-tier cryptocurrencies. In December 2020, the US SEC lawsuit against Ripple caused XRP’s price to plummet from around $0.50 to $0.17, wiping out over $15 billion in market value. Although the price eventually recovered, XRP remained at the 7 spot for the next four years.
XRP Lawyer John Deaton provides a complete overview of how XRP was the go-to cryptocurrency for businesses while the XRP Ledger was the most preferred platform for instant cross-border settlement. Talking about his long-going battle with the US SEC in the Ripple lawsuit, Deaton wrote:
“I sued the SEC b/c what it did was wrong. I’m not talking about Ripple. The SEC sues lots of companies. I’m talking about the absurd allegation that XRP itself was illegal, including if acquired by USERS of the XRPL or by people who’d never heard of Brad Garlinghouse, Chris Larsen, or Ripple”.
Below is a complete timeline of how Ripple’s XRP gained prominence in the early days before facing the regulatory heat in 2020.
THE RETURN OF XRP
With XRP overtaking SOL, above $2, and approaching a $120B market cap, allow me to reflect.
When I sued the SEC, people assumed I was a huge XRP holder. The truth is, when the @Ripple case was filed, 50% of my net worth was in BTC. Today, it’s 80%. I also had… https://t.co/z9adzzb9tg pic.twitter.com/WnnRr21f4M
— John E Deaton (@JohnEDeaton1) December 1, 2024
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Leading crypto exchange Binance issued a crucial update on crypto Notcoin (NOT), Radiant Capital (RDNT), KAIA, and Aerodrome Finance (AERO) on Wednesday. Notably, the digital asset trading platform revealed that it is delisting certain pairs for two of the mentioned assets while expanding support for the other two. In turn, crypto market participants are speculating over the future price actions of these four coins amid a broader bull market.
Binance Issues Updates on NOT, RDNT, KAIA, and AERO
In an official Binance announcement dated December 4, the crypto exchange giant revealed that it is delisting NOT/BNB and RDNT/BTC on December 6 at 03:00 UTC. This decision by the exchange comes primarily to “protect users and maintain a high-quality trading market.” Further, the announcement revealed that Spot Trading Bots services for the abovementioned pairs are also to be discontinued on the same date and time. Overall, the delisting chronicle has raised severe concerns among investors, reducing the assets’ market visibility.
Simultaneously, in another announcement, the crypto exchange behemoth revealed that it is expanding trade offerings for KAIA and AERO tokens. The exchange is launching KAIAUSDT and AEROUSDT perpetual contracts on December 4 at 14:00 and 14:15 UTC, respectively. Users remain primed to enjoy 75x leverage trading these tokens. Overall, these enhanced trade offerings spark investor optimism, providing the assets with enhanced market visibility.
The leading cryptocurrency exchange‘s announcements on all four assets have set off mixed investor sentiments regarding prices. While the enhanced offering paves the path for further gains, the discontinuation of support has raised bearish sentiments.
How Are The Coins Delivering?
Despite Binance’s delisting announcement, RDNT price was up 13% and is sitting at $0.105. Its 24-hour low and high were $0.08658 and $0.1059, respectively. Even NOT price gained 7% to $0.009623. Its 24-hour low and high were $0.008376 and $0.009651, respectively. These tokens have defied usual market sentiments, although market watchers continue to monitor them.
Besides, KAIA price soared 2% intraday to reach $0.3573. Its 24-hour low and high were $0.2692 and $0.3754, respectively. AERO price witnessed gains worth 16% in the past 24 hours and is currently trading at $1.92. Its intraday low and high were $1.57 and $1.85, respectively.
Altogether, the rising actions could be the effect of a broader Q4 bull market. Nevertheless, market watchers continue to keep these coins on the radar for further shifts.
Also, it’s noteworthy that Binance announced delisting BAND, GTC, AVA, and other tokens in BTC pairs in another similar chronicle. The crypto exchange’s announcements appear to have a highly influential stance and remain much-eyed in the industry,
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Leading DeFi platform PancakeSwap on Wednesday marked a monumental stride, introducing a new token launch portal for BNB Chain, SpringBoard. This new platform is much-touted to be similar to Solana’s token launch platform Pumpfun.
PancakeSwap Launches SpringBoard Aiding Projects On BNB Chain
In an official announcement by PancakeSwap on December 4, the DeFi entity revealed that it is introducing an all-in-one platform to create and launch tokens on BNB Chain. This platform is called SpringBoard.
Notably, the newly launched portal is set to cause a stir in the market, offering revolutionary features. First off, no coding is required to create tokens on PancakSwap’s new portal. “Once you’ve configured your project’s name, ticker, and basic settings, your token will be live and ready for trading in minutes,” the announcement stated.
Further, the new portal also offers users low-cost and fair launch opportunities. This includes zero launch fee, transparent trading fees, and minimal seeding fee required for a token launch. Also, token launchers can choose multiple token pairings, ranging from BNB, USDT, and CAKE on this new portal. Additionally, another feature of the portal, the Farm Program, aims to offer projects increased liquidity with CAKE.
PancakeSwap’s announcement also offered a step-by-step guide for those looking to utilize the new platform for token launches. Further, in light of the new platform’s launch, CAKE price soared roughly 30% to $4.12. On the other hand, Solana’s Pumpfun has also garnered noteworthy attention amid this bull cycle.
Solana’s Pumpfun Gains Traction
CoinGape reported that Pumpfun achieved record-breaking monthly revenue in November, marking a 207% increase from October. This monumental stride comes against the backdrop of initial token launches such as WIF and POPCAT, followed by CHILLGUY, PNUT, MOODENG, and many others.
Simultaneously, the Solana-based token launch platform has also recently encountered significant backlash over its live-streaming feature. In the wake of this backlash, Pumpfun also suspended the live-streaming service the previous month. These chronicles have garnered significant attention to the Solana token launch platform. Meanwhile, PancakeSwap’s SpringBoard further remains poised to rival Pumpfun.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Ronin Network (RON) saw a 33.18% jump in transactions in the past 24 hours, reported on-chain analytics platform Nansen. The total transaction count reached 2.55 million, a clear sign of increased user engagement. This surge raises questions about the network’s future potential and whether it could trigger a price rally. As momentum builds, attention turns to its’s continued growth in the blockchain space.
Ronin Network Sees 2.55 Million Transactions and $1.2 Billion TVL
Nansen has reported a significant 33.18% surge in transactions on the Ronin Network over the past 24 hours, with a total of 2.55 million transactions processed. This surge indicates heightened activity within the ecosystem, pointing to increased engagement and possible future growth.
This uptick in transactions comes as RON solidifies its position in the blockchain space, especially with its strong association with the popular game Axie Infinity. Currently, Ronin has 1.22 million daily active addresses and a Total Value Locked (TVL) of $1.2 billion. Despite supporting only 15 games, Ronin’s low fees and scalability have made it a preferred blockchain for gaming and decentralized finance (DeFi) projects, driving continued adoption.
Looking ahead, Ronin Network is preparing for a major transition to a permissionless blockchain in Q1 2025, which is expected to further broaden its ecosystem. As these developments unfold, the recent surge in transactions could indicate that the network is gearing up for more significant growth, potentially resulting in an upward price movement for RON, its native token.
Price Movement Shows Bullish Momentum
Ronin Network (RON) price was trading at $2.36, reflecting a 8% increase in the past hour. Over the last 24 hours, its price fluctuated between $2.049 and $2.36, showing solid price action. The token has seen impressive growth, with a 35% increase in value over the past week and a remarkable 80% gain in the last month. Coinglass data indicate a significant increase in derivatives trading activity.
With a market capitalization of $824 million and a 24-hour trading volume of $56 million, RON has garnered significant attention in the market. The token’s recent performance, along with the surge in network transactions, suggests a growing bullish sentiment around the Ronin ecosystem. If the current momentum continues, RON price could see further upward movement, potentially benefiting from the expanding user base and upcoming network developments.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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