Bitcoin Rebounds to $89,200, XRP Soars 11%, Global Market Tops $3.02T

Other altcoins leading the recovery today include SUI (+11%), PEPE (+8%), NEAR (+7%), TEL (+6%), and ETH (+3%). These assets are rebounding sharply from last weeks FUD-driven pullback.

They are now attempting to build on this momentum as sidelined traders gradually re-enter the market. Notably, the global crypto market cap has rebounded above $3.02 trillion, after crashing to $2.8 trillion last week.

Related: Bitcoin Sits Above the Crucial $80,000 Level: What Should Investors Expect？

Market Sentiment Strengthens on Fed Rate-Cut Expectations

The shift in sentiment followed new data showing the probability of a Federal Reserve rate cut in December rising to 85%, boosting confidence across risk-on assets. The PayFi sector led all categories with a 9.03% surge, driven by strong performances from:

• XRP, up by 11.00%
• Telcoin (TEL), up by 3.61%

Several major sectors also posted notable gains as volatility cooled and markets stabilized:

• Meme Sector: up by 5.51%, with Fartcoin jumping 24.17%
• DeFi Sector: up by 4.35%, supported by Ethena (ENA) rising 10.64%

XRP Leads Amid ETF Momentum

While Bitcoin remains the market anchor, XRP is currently leading the charge as ETFs for the coin begin launching. On Monday, global asset manager Franklin Templeton launched its new XRP ETF (XRPZ), recognizing XRPs key role in global payments. The ETF allows investors exposure to XRP without holding the token directly.

Its first-day inflows totaled $62.59 million, bringing the total XRP ETF inflow to $164 million. Grayscale‘s GXRP led with $67.36 million, while Bitwise and Canary Capital added $17.71 million and $16.38 million, respectively. Monday’s total XRP ETF inflows reached $164 million, bringing overall XRP ETF assets under management to $628.62 million.

Related: Franklin Templeton Grayscale XRP ETFs to Launch Nov 24 with $150M Volume Expected