The Rise of XRP: Overtaking Binance Coin
Ripple’s XRP has recently experienced a significant surge, overtaking Binance Coin (BNB) to secure its position as the fifth largest cryptocurrency. With its price reaching an impressive $1.91 and a market cap nearing $109 billion, XRP’s growth is noteworthy. This upward trend follows Ripple’s favorable ruling in its ongoing case against the U.S. Securities and Exchange Commission (SEC), which has undoubtedly boosted investor confidence.
Ripple’s 200 Million XRP Sale Can Cover Lawsuit Penalty
Ripple’s strategic financial management has been a key factor in its recent success. By releasing XRP from its escrow account, the company ensures liquidity while maintaining a balanced token supply. Pro-XRP lawyer Bill Morgan has highlighted that if Ripple were to sell 200 million XRP tokens recently released from escrow, it could easily cover the penalty imposed by Judge Torres multiple times over. This financial maneuverability underscores Ripple’s robust financial health, even amid ongoing legal challenges.
At current market prices, these tokens hold significant value, positioning Ripple as a financially secure entity. Morgan’s insights have resonated with the XRP community, further demonstrating Ripple’s resilience in the face of legal hurdles and market volatility.
Has XRP Surpassed Solana in Market Cap?
In addition to surpassing Binance Coin, there is speculation that XRP might have already surpassed Solana in terms of market capitalization. Morgan pointed out a potential miscalculation in market cap figures, suggesting that platforms like CoinMarketCap may not accurately reflect XRP’s true market value. According to Morgan, less than 38 billion XRP tokens remain in escrow, indicating a market cap of nearly $118 billion when XRP’s price surged to $1.90.
If Morgan’s calculations hold true, XRP has indeed surpassed Solana, marking a significant milestone in the cryptocurrency market. However, this achievement has yet to be accurately recognized by popular tracking platforms, leaving room for further analysis and discussions within the crypto community.
