XRP ranks fourth in market capitalization, Ripple to sell 500 million USD

#BTC returns to 100,000

XRP, this cryptocurrency just recovered a bit from a major drop, and Ripple moved its 200 million XRP (worth 500 million USD) all at once. With this large wave of selling, it will be difficult for XRP to increase in price, as the demand has been satisfied.

XRP previously surged, and its market cap soared to third place, but then there was a significant correction. Since last week, it has been falling, rumors have been debunked, and technical indicators are not strong, causing it to drop to fourth place.

Now, XRP has to be managed by Tether's USDT. Ripple, noticing something was off, immediately started a large sell-off. On December 11, Ripple transferred the 200 million XRP it prepared for December spending, which had been previously warned by Finbold.

Ripple’s operation is an old trick; first, they transferred the tokens to an address called “rP4X2h(...)”, and then traded from there. This address has also handled a lot of funds from other Ripple accounts.

Currently, XRP is at 2.43 USD, and with Ripple's 200 million XRP being sold, they made 486 million USD.

Speaking of which, on November 29, XRP's market cap exceeded 100 billion USD, surpassing Solana (SOL), as reported by Finbold. Later, it soared even higher, reaching a historical high of 165.74 billion USD, with a price of 2.90 USD, briefly overtaking Solana and USDT, ranking third.

Unfortunately, on December 4, the Relative Strength Index (RSI) indicated that XRP would fall, and it indeed dropped, with the price falling to 2 USD, not even because Ripple debunked rumors about being related to RLUSD.

Now, XRP's market cap is 138.8 billion USD, just a little less than USDT's 139 billion USD. If XRP can maintain this momentum, it might return to the top ranks of cryptocurrencies. However, the overall capital in the crypto market has increased, and Tether's USDT may rise as well, making competition quite fierce. There's also Circle's USDC, which is closely collaborating with Binance and aims to capture USDT's spotlight.

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