Crypto Market Cap Hits $4 Trillion as BTC, ETH, XRP Rally
The global crypto market surged to $4 trillion as Bitcoin (BTC-USD), Ethereum (ETH-USD), and Ripple (XRP-USD) pulled off yet another historic breakout, blasting near $123,000 for the first time ever—topping its previous all-time high.
BTCUSD has, however, spiraled backward on the back of profit-taking activities in the crypto market, while Ethereum (ETH-USD) blazed through its old resistance price level of $3500.
The flagship crypto gained 0.38% in the last 24 hours following a wave of fresh Ethereum Traded Fund (ETF) buying, and an upbeat risk appetite spilled over from record-breaking US stock markets.
ETHUSD is on fire, up by about 21% in 7 days, as some cryptocurrency analysts project that the second-largest crypto could do $4000 if the momentum persists. Bitcoin price soared to multiple all-time highs. After reaching its all-time high of around $122,800, the premier cryptocurrency has succumbed to a sobering wave of bearish pressure in the past few days.
This recent wave of downward pressure was precipitated by the movement of a Satoshi-era whale. However, the Bitcoin price never seemed likely to cross the $123,000 level.
Ripple (XRP-USD) is back in the spotlight as excitement grows around its future. With talks of a possible XRP ETF, Ripple’s IPO, and the end of its battle with the SEC, many wonder if XRP could reach $10 or more this year
XRP price has risen significantly over the last seven days, climbing to a new record high of $3.66 on Friday and up nearly 90% since its April lows. Despite this impressive performance, several technical setups suggest that XRP price is yet to enter its parabolic phase, according to analysts.
XRP’s recent surge is the result of a perfect combination of market optimism, favourable regulation, and a resurgent utility. For years, XRP has been lingering under the shadow of regulatory uncertainty. However, with Ripple’s victory over the SEC lawsuit in 2024, the token has received the green light from both institutional and retail investors.
Spot Bitcoin ETFs recorded a net inflow of $363 million on Friday, marking the twelfth consecutive day of net inflows amid strong investor interest. BlackRock’s iShares
Bitcoin Trust (IBIT) led the inflows with a net addition of $496.75 million, strengthening its position as the largest spot Bitcoin (BTC) ETF with $86.50 billion in assets, according to data from SoSoValue. #Crypto Market Cap Hits $4 Trillion as BTC, ETH, XRP Rally GCR Upgrades Globus Bank Ratings with Stable Outlook
