#精品内容#  XRP Surpasses USDT in Market Cap: Daily Volume Increases by 100%

After a massive increase in trading volume, XRP has surpassed USDT in terms of market cap, making it the third-largest cryptocurrency. After holding this position for more than an hour, USDT regained its former place.
While data analysis clearly shows where this market cap is coming from, it is difficult to determine the exact motivation of traders. The SEC concluded its case against Ripple last week, but XRP’s volume started to increase this morning.
XRP Market Cap Nears $150 Billion
Since the SEC and Ripple case concluded last week, XRP has been experiencing increased activity. In addition to an impressive price rally, the token has also benefited from increased trading volume.
Over the past 24 hours, XRP’s volume has increased by more than 100%, making it the third-largest cryptoasset by market cap, surpassing USDT.
XRP’s surpassing USDT’s market cap is impressive, especially as the stablecoin sector grows. But data analysis shows just how big an impact trading volume can have.
According to analysts, a relatively small volume increase caused the token’s market cap to skyrocket:
In other words, it’s hard to assess the exact macroeconomic reason for XRP’s market cap increase. The SEC lawsuit was settled last week, but most of that 107% trading volume increase occurred this morning.
It’s very likely that a single trader or small group moved $61 million worth of XRP, significantly complicating any narrative about the token’s success.
This volume increase can be said to have had a significant impact, but there was not much stability in gold. When the price of XRP fell in the early afternoon, USDT regained its place as the third-largest crypto asset by market cap.
Meanwhile, positive developments continue to fuel optimism for altcoins. In the US, recent reports suggest that Missouri could become the first state to exempt digital assets like Bitcoin and XRP from capital gains taxes.