XRP Surges Beyond $2, Securing Third Spot in Crypto Market Rankings
The crypto market is ablaze with excitement as XRP the native token powering Ripple’s ecosystem soars past $2, solidifying its rank as the third-largest cryptocurrency by market capitalization. Boasting a market cap of $135.37 billion, XRP has leapfrogged USDT ($134.17 billion) and Solana ($108.01 billion), sparking renewed debate over its potential to challenge Ethereum’s dominance.
At the time of writing XRP is trading at $2.30, reflecting an impressive 25.50% gain since Monday’s trading session began. This meteoric rise has revived optimism among XRP enthusiasts, with some speculating it could one day rival Ethereum (ETH) which currently holds a market cap of $441.46 billion.
Ripple CEO and Cardano Founder Meeting Fuels Speculation
Adding to the frenzy, a meeting between Ripple CEO Brad Garlinghouse and Cardano founder Charles Hoskinson has stirred the crypto community. While the agenda remains undisclosed, rumors suggest Garlinghouse might be a contender for the role of a “crypto czar” in a potential Donald Trump administration.
Legal Battle With the SEC: Uncertainties and Optimism
XRP’s resurgence coincides with intensified focus on Ripple’s legal battle against the U.S. Securities and Exchange Commission (SEC), which began in December 2020. The case, centered on XRP’s classification as a security, has revealed internal SEC divisions, particularly around the now-famous Hinman speech that deemed Bitcoin and Ethereum as non-securities in 2018.
While Ripple has scored key victories, such as the release of the Hinman emails, analysts predict the case could drag on until July 2025. Despite the regulatory uncertainty, XRP has reclaimed its pre-lawsuit valuation, rekindling memories of its market dominance before the SEC’s intervention.
Whale Activity Signals a Possible Peak
Recent on-chain data shows a surge in whale-to-exchange transactions, often a harbinger of market tops for XRP. Historically, whales tend to move large amounts of XRP to exchanges for liquidation during price peaks. Traders are closely monitoring these movements as XRP approaches critical resistance levels.
Can XRP Flip Ethereum?
While XRP’s market cap has surpassed Solana and USDT, it remains far behind Ethereum, whose valuation exceeds XRP’s by 219%. XRP could dethrone ETH if its price climbs to $7.75, a scenario that remains speculative but not impossible given XRP’s recent trajectory.
Since November 1 XRP’s price has skyrocketed 341%, delivering 280% annual returns. The token’s ongoing momentum, combined with Ripple’s legal progress and potential institutional adoption, has injected fresh energy into discussions about its long-term prospects.
Conclusion
As XRP continues to make waves, its journey is far from over. The token’s ability to maintain its current trajectory depends on several factors including the outcome of Ripple’s legal battle, further market adoption, and broader macroeconomic conditions. For now, XRP’s $2.30 price point is a testament to its resilience, but its path to challenging Ethereum remains steep.
Will XRP flip ETH? Only time—and the whales—will tell.
Disclaimer:
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency markets are highly volatile, and past performance does not guarantee future results. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
