XRP adds $7 billion in a day, defying market pullback

Published: Tuesday, May 13, 2025 at 8:55 am

XRP Soars While Bitcoin Stumbles: Why is Ripple's Token Defying the Crypto Downturn?

While the broader cryptocurrency market, spearheaded by Bitcoin (BTC), experiences a pullback, XRP, the digital asset associated with Ripple, is bucking the trend. In a remarkable 24-hour period, XRP added nearly $7 billion to its market capitalization, showcasing impressive resilience and investor confidence.

The token's market cap started the day at $139.69 billion and climbed to $146.47 billion, a gain of 4.85%. At its peak, XRP briefly surpassed Tether (USDT) to become the third-largest cryptocurrency by market cap, hitting $154 billion. This surge in value also translated to price gains, with XRP reclaiming the $2.50 level and posting a 2.5% increase in the last 24 hours. The weekly chart paints an even more positive picture, with XRP up 19%.

This bullish performance is supported by both technical and fundamental factors. XRP is trading above its 50-day and 200-day simple moving averages, indicating a strong uptrend. Despite significant whale activity, which often precedes price corrections, XRP has maintained its upward trajectory. A recent transfer of 20 million XRP, worth $50 million, to the Bithumb exchange didn't deter the token's growth.

Several factors are contributing to XRP's strength. The potential for Missouri to eliminate capital gains tax, benefiting digital asset holders, is a positive development. Furthermore, anticipation is building around the resolution of Ripple's ongoing legal battle with the SEC. The submission of a settlement proposal, coupled with the SEC's Chair's emphasis on modernized crypto regulations, is fueling optimism.

BNN's Perspective: XRP's recent performance is a testament to the enduring belief in its underlying technology and the potential for a favorable resolution in the SEC case. While the broader market faces headwinds, XRP's resilience suggests a strong community and a belief in its long-term value. However, investors should remain cautious, as the crypto market is inherently volatile, and the outcome of the SEC case remains a key factor.

Keywords: XRP, Ripple, cryptocurrency, Bitcoin, BTC, market cap, price, gains, crypto market, digital assets, Missouri, capital gains tax, SEC, regulation, whale activity, Bithumb, uptrend, 50-day SMA, 200-day SMA, Tether, USDT, crypto news, crypto investment

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