Why is rETH worth more than ETH?

Could you please explain to me why rETH holds a higher value than ETH? I'm interested in understanding the reasons behind this market discrepancy. What are the specific factors that contribute to rETH's increased worth? How does its unique characteristics or functionalities justify its higher price? Could you elaborate on the mechanisms and dynamics at play that lead to this difference in valuation? I'm eager to gain a deeper understanding of this phenomenon in the cryptocurrency and finance world.