The crypto outlook seems extremely positive in 2023 following the probable steps of the U.S. Securities and Exchange Commission for Approval for Spot Bitcoin ETF. Following the growth in the value of major digital assets Ripple (XRP), the fifth largest crypto based on market capitalization, has surged by 4.74% in the past 24 hours as investors remain optimistic about it. Moreover, Avalanche (AVAX) has risen 14.24% in the last 24 hours to set an all-time high record. 

Ripple (XRP) is expected to have a $50 billion market capitalization 

Following the positive momentum of the crypto world, the buzz in the market is that XRP could hit $50 billion market capitalization during the next bull. XRP’s current market capitalization is $36.97 billion with its tokens worth $0.685 each and is expected to regain last month’s price of $0.75 soon. It further can go up to $1.50 next year. 

As per Whale Alert data, Ripple returned 800 million XRP to its escrow account limiting XRP tokens in circulation. This is a part of the 1 billion XRP Ripple locks each month. Ripple uses the remaining 200 million XRP for operating costs and other business ventures. Another data from Whale Alert reports that 17.9 million XRP from Bitso was transferred to an unknown whale wallet. All these activities are a bullish indication as the coins in circulation become limited. 

The strategic moves have helped XRP surge in market capitalization by 10.92% over the past 7 days. Similarly, there has been a 2.47% and 39.81% increase in market cap and trading volume respectively over the past 24 hours.

Avalanche Is Tall Enough in Daily Transactions 

Avalanche stands tall in its 10th position among cryptocurrencies, experiencing robust growth in both market capitalization and trading volume by 14.24% and 114.35%, respectively, over the past 24 hours making many investors profitable. 

Avalanche’s surge is backed by different factors, like the launch of the social app Stars Arena, and its partnership with companies like JP Morgan and Citi in the emerging real-world asset tokenization market.

Currently, Avalanche’s token AVAX is trading at 31.79, marking a 256.39% increase compared to $8.92 in October. Its market capitalization stands at $11.62 billion while writing. 

Growing interest, coupled with bullish sentiment on both XRP and AVAX, supports their positive future outlook.