XRP Surges Past Tether, Hits $2.435 Billion Market Cap

XRP, the native cryptocurrency of the Ripple network, has recently demonstrated remarkable market presence, achieving a price of $2.435 and establishing a market capitalization of $142 billion. This milestone marks a notable achievement as the cryptocurrency once again surpasses Tether in market value rankings.

The digital asset has recorded a robust 24-hour trading volume of $4.01 billion, representing 3.656% of the total crypto market activity of $109.654 billion on Tuesday. Price movements have remained contained within a daily range of $2.41 to $2.52, showcasing relative stability in current market conditions.

Technical analysis of the one-hour chart reveals encouraging short-term momentum, with XRP bouncing back from a local low of $2.31. The price action has tested the $2.52 level, supported by increased trading activity during upward price movements. The asset currently trades within a critical price zone of $2.45 to $2.48, suggesting potential for further gains if support levels hold.

The four-hour timeframe indicates a period of consolidation following a sharp decline, with price action forming a lateral channel between $2.30 and $2.50. Trading volume has shown signs of reduction, reflecting market participants’ cautious approach to position-taking.

A key bullish trend line has formed with support at $2.3650 on the hourly chart, providing a foundation for potential price appreciation. This technical structure suggests bulls maintain control above this level, though challenges remain at higher resistance points.

Price movement below the 100-hourly Simple Moving Average indicates short-term bearish pressure, though longer-term indicators maintain a more optimistic outlook. The cryptocurrency currently trades below $2.420, establishing this as a near-term pivot point for price action.

Looking at the daily chart, XRP’s journey has included a climb to $3.40 before experiencing a correction to the $1.77 support level. Current price action between $2.40 and $2.60 represents a crucial consolidation phase that may determine the next major move.

The asset’s technical indicators present a mixed picture. The Relative Strength Index (RSI) reads 41.16, while the stochastic oscillator’s %K