Key Insights
- XRP reaches the $3 milestone and now ranks 99th globally with a market cap exceeding $180 billion.
- The crypto market reacts positively to Fed rate cut signals and XRP lawsuit resolution.
- Analysts expect the XRP rally to continue, supported by strong technicals and institutional adoption.
XRP has officially become one of the top 100 most valuable assets worldwide by market capitalization, reaching the 99th spot following a notable rally. Data from CompaniesMarketCap shows the cryptocurrency now boasts a market capitalization of over $180 billion. This rise follows XRP’s break above the key $3 threshold, positioning it ahead of CATL and just behind companies such as Pinduoduo and Deutsche Telekom.
XRP’s price movement gained momentum after U.S. Federal Reserve Chair Jerome Powell’s remarks at the Jackson Hole Symposium. Powell signaled a potential interest rate cut in September, which lifted market sentiment. Concurrently, the U.S. Appeals Court approved the dismissal of the long-running lawsuit involving Ripple and the SEC after both parties submitted a joint motion. The end of the legal proceedings removed a major overhang that had previously weighed on XRP’s valuation.
Technical Outlook Remains Strong
According to technical analyst CasiTrades, XRP’s next major resistance lies at $3.21. The analyst expects only a minimal pullback at that level, citing strong market momentum. A brief pause in the price action is possible, with a potential retest of the $3.168 consolidation zone before further gains resume. The sustained upward trend indicates strong investor interest and bullish sentiment.
Crypto market observer Altcoin Gordon pointed to several fundamental factors driving XRP’s performance. These include the possible launch of spot XRP exchange-traded funds (ETFs), new Ripple partnerships, and key upgrades to the XRP Ledger. Gordon believes XRP/BTC is approaching a critical breakout, ending an eight-year downtrend.
Institutional and TradFi Adoption Rising
Legal expert Bill Morgan commented on the growing institutional interest in XRP, emphasizing its continued relevance despite past challenges. He noted that the asset maintains features resembling hard money and has found increasing use in traditional finance. Yield opportunities are also on the rise, contributing to its attractiveness among investors.
XRP’s reentry into the top 100 global assets marks a significant milestone for the digital currency. Supported by strong technicals, regulatory clarity, and expanding utility, the altcoin appears positioned for continued growth.
