Ripple’s native cryptocurrency, XRP, has achieved a significant milestone by returning to its position as the third-largest cryptocurrency by market capitalization. This development has generated widespread excitement across the crypto community.
XRP lost its place in the top three in December 2020 following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple, accusing the company of conducting an “unregistered digital asset securities offering.”
With Ripple securing key legal victories in 2024 and the SEC lawsuit nearing a conclusion, XRP has experienced a dramatic resurgence. Its price surged notably in November, fueled in part by market optimism following Donald Trump’s return to the U.S. presidency.
Previously ranked behind stablecoins like Tether’s USDT, Binance’s BNB, Solana, and Circle’s USDC, XRP has now reclaimed its place behind Bitcoin and Ethereum.
“This is what the crypto landscape looked like before Dec. 22, 2020,” pro-XRP attorney John Deaton remarked on X, referencing XRP’s pre-lawsuit glory days.
Four years as the seventh-biggest coin
When the SEC lawsuit hit in December 2020, XRP’s price plummeted from $0.50 to $0.17, erasing more than $15 billion in market value. Fox Business reporter Eleanor Terrett highlighted the dramatic impact, noting in a Dec. 1, 2024, X post that XRP then spent the next four years at the seventh spot in the rankings.
“The fact that it never fell out of the top 10 despite the lawsuit says a lot,” one crypto enthusiast pointed out.
XRP is now more popular than crypto: Google Trends
XRP’s resurgence hasn’t been limited to market capitalization. Online interest in the cryptocurrency has skyrocketed, with Google Trends data showing “XRP” searches surpassing “crypto” searches multiple times throughout November.
As of now, XRP-related searches remain significantly higher than those for the broader crypto market. Interestingly, XRP also briefly overtook Ethereum (ETH) in Google search interest earlier in November, though Bitcoin remains ahead.
Will XRP flip ETH?
Despite its progress, XRP still has a considerable gap to close to overtake Ethereum as the second-largest cryptocurrency. ETH’s market capitalization is currently 219% higher than XRP’s.
According to crypto trader Christopher Jaszczynski, also known as MMCrypto, XRP would need to hit a price of $7.75 to surpass ETH.
At present, XRP is trading at $2.35, reflecting a 24% increase in the past 24 hours. Its remarkable rally has seen a 341% surge since Nov. 1, delivering annual returns of approximately 280%.
As XRP continues its upward momentum, the question remains: could it challenge Ethereum’s position in the future?
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