XRP News Today: XRP Surges 22.78% to $153.44 Billion Market Cap, Overtakes USDT

XRP has experienced a significant surge, with its market capitalization reaching $153.44 billion, surpassing USDT's $150.32 billion to secure the third position in the global rankings. This shift highlights the growing investor confidence in XRP, a token designed for cross-border payments, and reflects a reduced demand for stablecoins amidst renewed market volatility. XRP's circulating supply stands at 58.55 billion tokens, slightly below its total issuance of 99.98 billion.

Over the past week, XRP's price has increased by 22.78%, rising from $2.05 to $2.62. In the last 24 hours, the token has seen a 3.54% gain, indicating sustained buying pressure. The relative strength index (RSI) is at 66, suggesting bullish movements that have not yet reached overbought levels. The moving average convergence divergence (MACD) line has crossed above its signal line, with the histogram displaying expanding positive bars, indicating strengthening bullish momentum. XRP found support around $2.40, with traders now focusing on the $2.70–$2.75 zone as the next resistance area. Clearing this barrier could open the path to $2.80 or higher, while a failure at this zone may trigger a pullback toward established support.

On-chain analytics reveal an increase in active addresses and transfer volumes. There has been a 15% increase in daily active accounts over the past week, suggesting heightened interaction within the XRP ledger. Additionally, several transactions exceeding 10 million XRP have been noted, indicating significant price movements and the need for traders to monitor these developments closely.

In legal developments, Ripple and the U.S. Securities and Exchange Commission have filed a joint motion seeking a $50 million settlement. Under this proposed deal, Ripple would regain $75 million of the initial $125 million held in escrow. Ripple CEO Brad Garlinghouse described the motion as a “meaningful step toward clarity.” However, experts caution that the settlement still requires court approval, which could delay the final resolution.

The upcoming launch of XRP futures contracts on May 19 by the CME Group is another significant development. Despite a brief beta-page leak, the firm's roadmap remains unchanged. Futures markets are typically dominated by institutional players looking to hedge or speculate. Notably, Bitcoin began gaining traction after the launch of its CME futures in 2017. Although past trends do not guarantee future outcomes, the XRP futures could potentially trigger new demand. Additionally, several spot ETF applications for XRP are still under regulatory consideration, which could influence future institutional flows.