By the start of Sunday’s crypto market session, the market capitalization of the well-known cryptocurrency XRP had increased by over $300 million, which was a remarkable development.
The price of XRP increased by 1% during this rise, reaching $0.573 per token and increasing the currency’s market valuation to almost $31 billion, according to statistics from CoinMarketCap.
The market suffered what is known as a roundtrip, so the excitement was short-lived. The token’s capitalization decreased by $300 million as the price of XRP returned to its initial values. Right now, XRP is the sixth-biggest cryptocurrency, with a market ranking that places it between USDC and Solana (SOL).
The market capitalization of XRP experienced a significant increase soon after it was disclosed to be a part of the Grayscale Digital Large Cap Fund. Although there was initially no movement in the price of XRP in response to the news, the abrupt and notable increase in market capitalization points to a big surge in large-scale cryptocurrency purchases.
As XRP maintains its position as a prominent participant in the cryptocurrency realm, investors are anxiously awaiting the potential impact of this recent increase on the price dynamics of this well-known token. It’s clear that XRP has generated a lot of attention and activity since it was added to the Grayscale fund, which has led to conjectures regarding possible events in the near future.
