XRP has made a major move in the cryptocurrency rankings, surpassing Tether (USDT) to become the third-largest cryptocurrency by market capitalization. According to data from CoinMarketCap and CoinGecko, XRP’s market cap has soared to $145.56 billion, edging out Tether’s $143.43 billion. This shift isn’t a mere temporary fluctuation; a significant factor is driving this change, and the timing has sparked widespread interest in the crypto community.
Ripple’s Victory Over the SEC: A Turning Point for XRP
For the past four years, Ripple has been entangled in a high-stakes legal battle with the U.S. Securities and Exchange Commission (SEC), a conflict that had hindered XRP’s growth and left investors hesitant. However, the case has now come to an end, with the SEC officially withdrawing its lawsuit against Ripple. This pivotal moment sent shockwaves through the market, causing XRP’s price to surge. The news triggered a sharp rise in trading volume and market enthusiasm, signaling a new era for the cryptocurrency.
XRP on the Rise: Price and Trading Volume Surge
Currently trading at $2.50, XRP has gained 12.02% in just 24 hours. The cryptocurrency’s trading volume has skyrocketed by 139.34%, reaching $8.28 billion, as investors rush to capitalize on the recent developments. After weeks of stagnation in the broader crypto market, this surge in XRP’s performance has injected fresh optimism, giving rise to bullish sentiment.
What’s Next for XRP: Is $5 in Sight?
With XRP now firmly planted in the top three, attention is shifting to the next major milestone: $5. Given its current momentum, this goal doesn’t seem impossible. However, the burning question remains: Could XRP challenge Ethereum for the second spot?
To overtake Ethereum, XRP would need to increase its market cap by an additional 68.34%, reaching a valuation of over $244.19 billion. While this may seem like a daunting task, the unpredictable nature of the crypto market means that nothing is off the table. Some analysts have even ventured bold predictions, suggesting that XRP could eventually reach astronomical figures like $18,000. However, such forecasts remain speculative at best.
XRP’s resurgence is undeniable. With the legal battles behind it, the cryptocurrency is gaining momentum, and investor confidence is on the rise. If the current trend continues, XRP enthusiasts could be in for an exciting and potentially volatile period ahead.
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