XRP surpassed BNB to become the third largest cryptocurrency with a market cap of 158 billion USD, driven by short-term buying momentum. XRP reached 2.63 USD, up 3.43% on the day and 12.8% for the week, while BNB was at 1,123.71 USD, a slight increase of 0.55%.
In October, BNB surpassed XRP thanks to relaxed regulations, stronger network activity, and a boost from Trump pardoning Binance CEO Changpeng Zhao along with listings on Coinbase and Robinhood.
Why is the price of XRP rising?
XRP is soaring thanks to strategic moves around Ripple and the Evernorth fund (DAT). Co-founder Chris Larsen sold part of his XRP to fund the fund, expecting to raise over 1 billion USD through SPAC to buy and hold XRP long-term.
Backed by SBI, Evernorth is expected to engage in on-chain lending and provide liquidity, supporting increased demand and value for XRP along with plans to expand Ripple's applications.
Price prediction for XRP
The price surge of XRP occurs amid a wave of FUD, as small wallets sell off and market sentiment hits a 9-month low; news of Larsen selling 120 million USD XRP further increases concerns.
Santiment notes mixed signals: retail investors fear XRP will fall below 2 USD while institutions quietly accumulate; a 'sell' signal appears when the price exceeds 3 USD. History shows FUD often signals a new rise.
With the XRP ETF decision imminent and the stablecoin RLUSD nearing 1 billion USD, institutional capital reaches 73.88 million USD, forecasting the price could hit 2.8 USD by the end of the month and 3.5 USD by year-end.
