XRP hits all-time high after 7 years as market cap tops $210B

XRP has reached a new record of all time, breaking a seven -year record while Momentum is built on the Altcoin market.

Friday, July 18, the token reached a new record summit of $ 3.64, above its previous summit of $ 3.40, established in January 2018. According to Crypto.News Price trackerXRP (Xrp) is negotiated at $ 3.59 from press time, up 18% on the last day and 40% last week.

After the last wave, the merchant value of XRP increased to $ 212 billion, making it the third cryptocurrency by market capitalization, exceeding the attachment (USDT). Its market capitalization increased by 65% in only the last month as the interest of investors in the token increases.

There was also a significant increase in commercial activity. XRP cash trading volume increased by 135.5% in the last day to 19.05 billion dollars. The derivative markets have followed suit.

The long -term negotiation volume jumped 162.6% to 46.65 billion dollars and open interest increased by 27% to 11.11 billion dollars, according to Corglass data. The increase in derived activity indicates increasing speculation and the increase in positioning among traders.

Several factors seem to feed the rise of XRP. A major engine is Ripple’s recent push in regulated finance. Ripple and circle (USDC) asked for a charter of the American National Bank in early July. If it is accepted, this decision would bring an undulation under federal surveillance and position it closer to the American financial system.

At the same time, Ripple is preparing its Stablecoin Rlusd for wider use, in accordance with emerging American regulations. The momentum suddenly took after the house pass The law on engineering on July 17, a bill which establishes clear rules for the issuance of stables. The legislation obliges support for the complete reserve, regular audits and license requirements, the criteria that Ripple has already moved to meet Rlusd.

The company is looking for a main account of the Fed and appointed Bny Mellon as a guard of its reserves. The act of engineering capable of becoming law, Rlusd could obtain an early advantage in the compliant stablecoin sector, which further increases the request for XRP.

The institutional interest in XRP has also increased. In a new stage of institutional adoption, Vivopower International and Webus have announced plans purchase A total of $ 421 million in XRP for their corporate treasury bills. These developments have strengthened the confidence of investors and contributed to the last price wave.

The developments in progress in the legal battle of Ripple with the American Commission for Securities and Exchange support the bullish feeling. Ripple and the dry have expressed their interest in withdrawal Their calls, suggesting that full regulations are on the horizon.

Another potential catalyst that market observers are monitored closely is the possibility of negotiated funds in exchange XRP listed in the United States. Similar to the way Bitcoin (BTC) and Ethereum (Ethn)) The FNBs have enabled institutional entries, an ETF XRP can draw capital from wealth managers, pension funds and financial advisers if regulatory obstacles continue to drop.