XRP reclaims 4th in market cap…up 2.10% from previous day
Summary
- It was reported that XRP(XRP) rose to 4th place by market capitalization.
- XRP rose 2.1%, overtook Binance Coin, and recorded $2.65.
- Major firms including Ripple said they will provide $1 billion to the reserve company to purchase XRP.
XRP(XRP) rose intraday, moving up to 4th place in market capitalization rankings of the virtual asset (cryptocurrency) market.
As of 8:44 AM on the 27th (Korean time), XRP is trading at $2.65, up 2.1% from the previous day according to CoinMarketCap. Its market capitalization is $159.21 billion.
Also, with today's rally, XRP overtook Binance Coin (BNB) to return to 4th place by market capitalization.
The recent rise in XRP is attributed to the emergence of an XRP reserve company. XRP issuer Ripple, SBI Holdings, and Pantera Capital plan to raise $1 billion of funding for an XRP reserve company named 'Evernos'. Evernos is expected to go public through a merger with Nasdaq-listed SPAC Armada Acquisition Corp.
Most of the raised funds will be used to purchase XRP on the market to create the world's largest XRP reserve company.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.
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