XRP is maintaining a steady upward trend with a price above $3 and surpassing BlackRock's market capitalization, marking a turning point for digital assets in traditional finance.
The recent surge in XRP's price is thanks to a combination of legal factors, new financial products, and improved market sentiment, opening up prospects for a price of $5–8 in the near future.
MAIN CONTENT
XRP surpasses BlackRock with $179 billion, marking an important milestone in digital finance.
XRP's price increase is due to the legal victory over the SEC, the upcoming ETF launch, and Ripple's banking license plans.
Technical analysis suggests XRP could break through to $5–8 if it surpasses the resistance at $3.30.
How did XRP surpass BlackRock's market capitalization?
XRP recorded a market capitalization of $179 billion, surpassing BlackRock's $177 billion. This is a notable milestone as XRP is priced at about $3 per Token, while BlackRock is an asset management firm with up to $10 trillion in assets.
This event is not a temporary speculative phenomenon but reflects the trend of digital assets with practical applications increasingly capable of competing with the giants in traditional finance.
XRP's 'flippening' of BlackRock has sparked much debate about the future of digital finance and the significance of blockchain adoption in the modern financial system.
What are the reasons for XRP's strong price increase?
XRP's growth in price comes from multiple positive factors simultaneously. Most notably, Ripple has officially concluded the lengthy legal battle with the SEC, creating rare legal clarity for this Token.
Moreover, XRP-related ETF funds are expected to be approved in October, Ripple is getting closer to applying for a banking license, and the RLUSD stablecoin product is under development. These developments are attracting significant interest from institutional investors, viewing XRP as a long-term payment solution.
Additionally, the dovish remarks by U.S. Federal Reserve Chairman Jerome Powell at the Jackson Hole conference have boosted expectations for interest rate cuts in September, helping the risk market rebound and favoring digital assets, with XRP standing out due to its combination of utility and legal transparency.
What are the price forecasts for Ripple (XRP) in the near future?
Technical analysis shows that XRP is forming a double bottom and symmetrical triangle, indicating bullish pressure accumulating below the resistance zone of $3.08–$3.09. If it surpasses $3.30, XRP could reach multi-year highs around $5–8.
Traders are currently watching whether XRP can hold above $3 during adjustments and maintain buying pressure. The upcoming ETF launch, the development of new stablecoins, and Ripple's ambition for a banking license are factors contributing to sustainable value, helping XRP not only surpass BlackRock but also indicating that blockchain technology is gradually challenging traditional financial corporations.
"Advancements in banking licenses and stablecoin products will help XRP become the preferred choice for institutions in the global financial ecosystem."
– David Schwartz, CTO Ripple, 2024
Frequently Asked Questions
What does XRP surpassing BlackRock's market capitalization mean?
This is a new sign that digital assets can compete with and even surpass large traditional financial corporations.
Why has the price of XRP surged recently?
XRP's price increase is due to the resolution of the legal dispute with the SEC, the upcoming ETF event, the development of new stablecoins, and expectations of the Fed cutting interest rates.
What price could XRP reach in the near future?
Technical analysis and market trends predict XRP could reach a price of $5 to $8 if it surpasses the resistance at $3.30.
What are Ripple's plans for the future of XRP?
Ripple is aiming for banking licenses while developing stablecoin products to increase XRP's application in global payments.
What is the current trading volume of XRP?
The daily trading volume is nearly 59 million Tokens, almost double previous levels, reflecting strong interest and high liquidity.
Source: https://tintucbitcoin.com/xrp-vuot-blackrock-gia-tang-dinh/
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