Cryptos Rise, XRP Now Ranked 4th Overall

Cryptocurrencies rose moderately in the past 24 hours, but XRP outperformed the broader markets with a 14-percent overnight surge. XRP jumped to the 4th spot overall, ranking behind Bitcoin, Ethereum and Tether, and relegating BNB to the 5th slot.

Overall cryptocurrency market capitalization is currently at $1.33 trillion.

XRP (XRP) rallied 13.9 percent in the past 24 hours, 26.1 percent in the past week and 114.3 percent in 2023. Market capitalization of the cryptocurrency tagged to the Medium of Exchange category has surged to $39.1 billion. XRP traded between $0.7066 and 0.6341 in the past 24 hours. XRP now dominates 2.85 percent of the overall crypto market.

Market leader Bitcoin (BTC) gained half a percent in the past 24 hours to trade at $35,080.03. Weekly gains are a little less than 1 percent whereas year-to-date gains are at 112 percent. BTC had touched a high of $35,340.34 earlier in the trade.

Leading alternate currency Ethereum (ETH) added 1.5 percent in the past 24 hours, 4.3 percent in the past week and more than 59 percent in 2023. Ether has touched a 24-hour high of $1,911.61.

7th ranked Solana (SOL) slipped 1.7 percent in the past 24 hours but is still holding on to weekly gains of more than 15 percent.

65th ranked Trust Wallet Token (TWT) topped overnight gains among the highest ranked 100 cryptocurrencies with a surge of close to 24 percent.

51st ranked Neo (NEO) slipped close to 7 percent in the past 24 hours.

Meanwhile, the CoinShares’ Digital Asset Fund Flows Weekly report on institutional investments showed inflows of $261 million for the week ended November 3. Month-to-date flows stood at $256 million whereas year-to-date flows increased to $847 million.

Bitcoin products recorded inflows of $229 million. Diverging from the trend in the previous week, Ethereum-based products recorded inflows of more than $17 million. Solana products recorded inflows of close to $11 million. Short Bitcoin products recorded inflows of more than $4 million.

The country-wise analysis shows inflows of $157 million to United States, $63 million to Germany and $36 million to Switzerland. Canada recorded inflows of more than $9 million.

Cumulative AUM stood at $38.7 billion of which $29.5 billion is in United States. Canada and Switzerland account for AUM of around $2.3 billion each followed by Sweden and Germany that account for AUM of close to $2 billion each.

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