In the past few days, XRp has for the first time in its history recorded a spike to one dollar, rising more than 18 percent and reaching a spike at 1.04 dollars. Over the past week, the price of this currency surged by an impressive 80 percent, making it one of the most successful cryptocurrencies of late.
The success of XRp has allowed it to increase its market capitalization to $59.59 billion, with this capitalization having grown by $18 billion in the last 24 hours. The rise in price for this cryptocurrency and cryptocurrencies in general is linked to the victory of Republican Donald Trump in the presidential elections in the USA, as Trump supports the crypto world.
The price of Bitcoin, the largest cryptocurrency by market capitalization, also recorded a spike of $90,000 last week for the first time, which contributed to an increase in the wealth of several prominent entrepreneurs and investors in this sector.
According to Forbes estimates, the 11 richest crypto billionaires, the majority of whom come from digital assets and stocks, increased their total income by $38 billion during 2024. Of them, 63% or $24 billion of general growth occurred since the beginning of September, when optimism regarding Trump’s victory began to influence the sentiments of market participants in cryptocurrency.
The global market capitalization of cryptocurrencies exceeded $3 trillion on November 12, 2024, surpassing the total GDP of all 54 African countries, the total GDP of which is about $2.8 trillion, according to the latest data from the International Monetary Fund.
According to CoinGecko's data provider on cryptocurrencies, the market capitalization of cryptocurrencies increased by 25 percent from the moment of elections on November 5, 2024, to November 12, reflecting significant optimism in the market following Trump's election.
