Good day everyone,
I hope you are all having a good day, welcome to CryptoGod-1's blog on all things crypto. In this post I will be looking at the recent surge in XRP price and how it has moved above Tether (USDT) to become the third largest cryptocurrency by market cap.
XRP Becomes 3rd Largest Cryptocurrency
The crypto market has witnessed a significant moment as XRP rose above USDT to become the third largest cryptocurrency by market cap. XRP has made its historic comeback as the number of “XRP” Google searches breaking above “crypto.”
XRP is a cryptocurrency used by the United States blockchain payments firm Ripple. It has surged in price, reaching surpassing the $2 mark and pushing towards $2.50. It dropped out of the top three cryptocurrencies by market cap in December 2020 as the US Securities and Exchange Commission sued them on allegations of selling “unregistered digital asset securities offering.” The SEC lawsuit is nearing resolution and Ripple have already achieved a number of legal victories throughout 2024. Back when the SEC sued Ripple the price fell from around $0.50 to $0.17 and wiped out more than $15 billion in market value.
However, the token never fell out of the top ten cryptocurrencies and this spoke volumes of its potential and the belief in the market of XRP's potential. Following a massive breakout during November 2024 for XRP, it is now spiking in terms of Google searches. It was more searched than the term 'crypto' on three separate occasions in November. The current metrics also suggest that users continue to search for XRP significantly more than crypto in general at the time of writing.
Some are even beginning to believe that XRP has the potential to rival and even flip Ethereum. The market cap of ETH currently stands at $44,449,889,377, meaning it exceeds the value of XRP by over 200%. At current market values, XRP would need to reach a price of $7.75 to flip ETH. A recent meeting between Cardano founder Charles Hoskinson and Ripple CEO Brad Garlinghouse has captured attention, along with rumours of Garlinghouse being considered for a role as Donald Trump's potential crypto czar. This could further boost the value of XRP although nothing is confirmed as of yet.
Have a great day.
Peace. CryptoGod-1.
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