Ripple’s XRP Returns to Grayscale’s GDLC; Monero and Rebel Satoshi Step Into the Spotlight

cryptonews.com:

In a noteworthy move within the cryptocurrency landscape, Ripple’s XRP has made a triumphant return to the Grayscale Digital Large Cap Fund (GDLC) after a hiatus of three years. This development highlights the evolving dynamics of the crypto market, where established players like XRP find their way back into the investment portfolios.

Additionally, as Ripple’s XRP reclaims its position, other cryptocurrencies like Monero (XMR) and Rebel Satoshi ($RBLZ) are also stepping into the spotlight, showcasing the diverse and dynamic nature of the digital asset space.

After being removed from the GDLC on January 4, 2021, following regulatory challenges and SEC allegations against Ripple Inc., XRP is making a comeback. Grayscale, a major player in crypto-based investment products, announced the decision after its fourth-quarter 2023 reviews. With the District Court for the Southern District of New York ruling that XRP is not a security in mid-July 2023, the regulatory clouds have lifted, paving the way for its reinstatement.

As of the January 2024 rebalancing, Grayscale is utilizing cash proceeds to acquire XRP, assigning it a weight of 2.54% in the updated GDLC portfolio. This move underscores a renewed confidence in XRP’s legitimacy and potential as part of a diversified digital asset fund.

While Ripple’s XRP takes the spotlight, Monero (XMR), currently valued at $151 and ranked 34th in cryptocurrency, is quietly gaining traction. Boasting a market capitalization of $2,775,365,686, Monero is positioning itself as a reliable investment option.

Analysts anticipate XMR to hover between $138.36 and $165.32 in January 2024. This stability and market positioning make Monero an attractive choice for investors seeking both consistency and