XRP News – XRP Makes Historic Comeback as Third-Largest Cryptocurrency by Market Cap

XRP News – XRP’s Resurgence: How Legal Wins and Market Surge Put It Back in the Top 3

XRP News – XRP, the cryptocurrency developed and issued by the United States blockchain firm Ripple, has made an impressive comeback, reclaiming its position as the third-largest cryptocurrency by market capitalization. This milestone marks a significant turnaround for XRP, which had fallen from the top three in December 2020 due to a lawsuit filed by the U.S. Securities and Exchange Commission (SEC), accusing Ripple of facilitating an unregistered digital asset securities offering.

XRP’s Legal Struggles and Recent Rally

In December 2020, when the SEC filed the lawsuit, XRP’s price plummeted from approximately $0.50 to $0.17, wiping out more than $15 billion in market value. Despite this drastic decline, XRP managed to maintain its position in the top 10 cryptocurrencies over the past few years. However, it spent a significant period as the seventh-largest cryptocurrency by market cap.

The tide began to turn in 2024. As Ripple achieved several legal victories, including notable progress in the ongoing lawsuit with the SEC, XRP experienced a massive surge in value, particularly after Donald Trump’s victory in the 2024 U.S. presidential election. This resurgence has propelled XRP to reclaim its spot in the top three cryptocurrencies after Bitcoin (BTC) and Ether (ETH), surpassing Tether’s USDt, Binance’s BNB, Solana (SOL), and Circle’s USD Coin (USDC).

XRP’s Market Position: A Historic Achievement

As of December 2024, XRP stands firmly as the third-largest cryptocurrency by market capitalization, following Bitcoin (BTC), which is currently priced at $95,272, and Ether (ETH), priced at $3,595.86. This remarkable comeback signals not only the resilience of Ripple but also the growing confidence in XRP among investors and the broader crypto community.

John Deaton, a pro-XRP lawyer, highlighted this achievement on X (formerly Twitter), emphasizing the significance of XRP’s return to the top three. Deaton shared a post showing the market landscape before December 22, 2020, when XRP was a leading cryptocurrency.

XRP’s Popularity Soars: Google Trends Data

In November 2024, as XRP experienced a breakout in price and market capitalization, it also saw a surge in search interest. According to Google Trends, searches for “XRP” outpaced those for “crypto” on at least three occasions during the month, reflecting the growing public interest in the cryptocurrency. Additionally, XRP surpassed Ether (ETH) in search volume in early November, further highlighting its rising popularity. However, it has yet to surpass Bitcoin in search interest, although it continues to close the gap.

XRP’s Path to Surpassing Ether

While XRP has made significant strides in the market, analysts believe that it still has a long way to go before it can surpass Ether (ETH) and become the second-largest cryptocurrency by market capitalization. Currently, ETH’s market value exceeds that of XRP by around 219%. According to crypto trader Christopher Jaszczynski (known online as MMCrypto), XRP could potentially flip Ether if its price rises to around $7.75. As of writing, XRP is trading at $2.35, up 24% over the past 24 hours. Since November 1, 2024, XRP has surged by an astonishing 341%, with annual returns of about 280%.

What’s Next for XRP?

The future of XRP looks promising, with many analysts predicting continued growth, especially as Ripple secures more legal victories and gains momentum in the market. With its current rally and growing investor confidence, XRP has the potential to push even further in market rankings, possibly challenging Ethereum (ETH) for the second spot.

For investors and crypto enthusiasts alike, XRP’s return to prominence serves as a testament to the volatility and potential of the cryptocurrency market. As Ripple continues to fight legal battles and gain institutional support, XRP could continue to thrive, especially as the SEC lawsuit nears its resolution.

XRP’s Resurgence: A Key Player in the Crypto Space

XRP’s historical comeback is more than just a market movement; it signifies a major shift in the cryptocurrency landscape. With its legal challenges behind it and its price surging, XRP has reestablished itself as a key player in the space. As it continues to rise, both in market capitalization and public attention, it’s clear that XRP is here to stay.

Investors and traders will be watching closely as Ripple navigates the final stages of its legal disputes and as XRP potentially takes on even greater market share in the coming months and years.

Disclaimer: This website’s content is for informational purposes only and does not constitute financial advice, with all cryptocurrency purchases carrying inherent risks.