"XRP topped $1.50 on May 10 as bitcoin reclaimed $82,000 during a crypto market rally. On May 10, XRP breached the $1.50 mark for the first time in nearly two months amid a rare weekend cryptocurrency market rally that also saw bitcoin briefly reclaim $82,000. According to Bitstamp data, XRP nearly touched $1.51, outperforming many high-cap altcoins, which were mostly flat or posted negative gains during the same period."
"Although XRP later retreated to $1.45 as of 4 a.m. EST, it was still up approximately 2% over 24 hours, well ahead of the broader crypto market, which rose just 0.1%. Meanwhile, XRP's rally toward $1.51 briefly pushed its market capitalization above $92.6 billion before falling back to just under $90 billion at the time of writing."
"The digital asset's surge followed a week in which spot XRP exchange-traded funds (ETFs) recorded $34.21 million in net inflows. According to Sosovalue data, the latest inflows brought the XRP ETF's total net asset value to $1.12 billion, with a net asset ratio of 1.26%. The recent withdrawal of $115 million worth of XRP from exchanges also helped sustain the cryptocurrency's rally late Sunday."
"On social media, pro- XRP accounts cited the recent near-real-time cross-border redemption of tokenized U.S. Treasurys via the XRP Ledger as one of the key developments driving the cryptocurrency higher. As reported by Bitcoin.com News, the test transaction conducted in collaboration with J.P. Morgan's Kinexys, Mastercard and Ripple is viewed"
XRP climbed above $1.50 for the first time in nearly two months during a wider crypto market rally that also lifted bitcoin above $82,000. XRP nearly reached $1.51, outperforming many high-cap altcoins that were mostly flat or down. XRP later pulled back to about $1.45, but remained up roughly 2% over 24 hours while the broader market rose about 0.1%. XRP market capitalization briefly exceeded $92.6 billion before falling below $90 billion. Spot XRP ETFs recorded $34.21 million in net inflows, raising total net asset value to $1.12 billion and a net asset ratio of 1.26%. A $115 million withdrawal from exchanges also supported the move. Pro-XRP accounts pointed to near-real-time cross-border redemption of tokenized U.S. Treasurys via the XRP Ledger, tied to tests involving J.P. Morgan’s Kinexys, Mastercard, and Ripple.
Read at news.bitcoin.com
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