Originally published on: December 02, 2024
XRP, the digital currency used by Ripple, has achieved a remarkable milestone by reclaiming its position as the third-largest cryptocurrency by market capitalization. This significant comeback comes after a lengthy legal battle with the US Securities and Exchange Commission (SEC), sparking excitement within the crypto community.
The journey for XRP was not without its challenges, as it dropped out of the top three cryptocurrencies back in December 2020 when the SEC filed a lawsuit against Ripple, alleging the firm of conducting an unlawful digital asset securities offering. However, after a series of legal victories for Ripple in 2024, XRP has seen a resurgence, with a notable surge following the US presidential election won by Donald Trump.
Previously trailing behind stablecoins like USDt, BNBB, SOL, and USDC, XRP now stands proudly as the third-largest cryptocurrency, just behind Bitcoin and Ether. This comeback has been well-received by supporters, with many noting the resilience of XRP even during times of adversity.
The recent spike in XRP’s value has not gone unnoticed, with online searches for “XRP” surpassing those for “crypto” multiple times in November, according to data from Google Trends. This surge in interest reflects the growing excitement and curiosity surrounding XRP and its potential for further growth.
While XRP has made significant gains in recent weeks, it still has a way to go before surpassing Ether as the second-largest cryptocurrency by market capitalization. However, with the current momentum and positive market trends, many believe that XRP has the potential to achieve this feat in the near future.
As of the latest update, XRP is trading at $2.35, marking a 24% increase in the past 24 hours alone. With an impressive 341% jump since November 1 and annual returns of around 280%, XRP is certainly a cryptocurrency to watch in the coming months.
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