- XRP has surged to become the third-largest cryptocurrency by market cap, driven by legal wins and market optimism.
- Google Trends shows XRP-related searches surpassing “crypto,” reflecting heightened interest following recent price gains.
- XRP’s price has risen 341% since November, now trading at $2.35, with potential for further growth.
XRP has reclaimed its position as the third-largest cryptocurrency by market capitalization after years of trailing behind stablecoins and other digital assets. The cryptocurrency’s resurgence follows a significant rally, which began after Ripple achieved notable legal victories in its ongoing case with the U.S. Securities and Exchange Commission. A renewed wave of investor confidence pushed XRP to levels unseen in years, with its market cap now trailing only Bitcoin and Ethereum.
Legal challenges have overshadowed XRP’s journey since December 2020, when the SEC accused Ripple of facilitating an “unregistered digital asset securities offering.” The lawsuit caused XRP’s value to plummet from $0.50 to $0.17, removing the token from the top ranks and resulting in a prolonged period as the seventh-largest cryptocurrency. Despite this, XRP never dropped out of the top 10—a fact many in the community saw as a testament to its resilience.
Renewed Popularity and Market Trends
In November 2024, XRP’s market activity received a further boost following Donald Trump’s presidential election win, sparking renewed attention on the cryptocurrency. Google Trends data shows XRP surpassing general “crypto” searches multiple times during the month, indicating its growing dominance in digital asset discussions.
The heightened interest also extended to price performance. XRP has surged by 341% since the beginning of November, with its current price of $2.35 reflecting a 24% gain in the past 24 hours. However, while XRP’s current market cap places it firmly in third place, it remains significantly behind Ethereum, which holds more than double XRP’s valuation. Analysts suggest a price of $7.75 would be required for XRP to overtake Ethereum.
As XRP continues to ride this wave of momentum, industry observers are watching closely to see if the cryptocurrency can sustain its upward trajectory or potentially challenge Ethereum’s long-held second-place position.
