XRP, Ripple’s flagship cryptocurrency, has made headlines after reclaiming its position as the third-largest cryptocurrency by market capitalization. This impressive milestone comes as the token soared by over 28% in a 24-hour period, hitting a multi-year high of $2.48. Ripple CTO David Schwartz celebrated the achievement, coinciding with his 12th work anniversary at the company.
XRP Surpasses Tether and Solana to Secure Top 3 Spot
A Stunning Comeback Amid Legal Challenges
XRP’s rise back to prominence is a notable achievement, especially after its position in the top 10 was threatened due to the ongoing SEC lawsuit against Ripple. The token’s market cap now stands at $139 billion, putting it ahead of stablecoin leader Tether (USDT) and Solana (SOL). This places XRP among the elite cryptocurrencies, second only to Bitcoin (BTC) and Ethereum (ETH).
XRP’s Market Cap Outshines Major Corporations
With its surging valuation, XRP now boasts a market cap larger than global giants such as Citigroup, Airbus, and Sony. While impressive, it still trails Ethereum (ETH), which holds a commanding $444 billion market cap, highlighting the gap XRP needs to bridge to claim the second spot.
How XRP Compares to Other Top Performers
XRP’s 24-Hour and Weekly Gains
XRP saw a sharp 28% increase in just 24 hours and an impressive 69% gain over the past week. However, it wasn’t the top performer among the top 100 cryptocurrencies. Hedera (HBAR) surpassed XRP with a staggering 42% single-day surge and a 78% gain over the week.
Other Legacy Altcoins See Resurgence
The rally wasn’t limited to XRP and HBAR. Legacy altcoins such as EOS (EOS) and Litecoin (LTC) also enjoyed renewed investor interest, with gains of 20.5% and 20.2%, respectively. This resurgence signals a broader interest in established cryptocurrencies.
What’s Driving XRP’s Momentum?
Market Anticipation for Upcoming Catalysts
XRP’s rally is fueled by strong market sentiment and anticipation of another major catalyst on the horizon. This sustained optimism underscores its enduring appeal, even amidst regulatory challenges.
Conclusion: XRP’s Road Ahead
XRP’s resurgence to the third-largest cryptocurrency spot demonstrates its resilience and growing market appeal. With further catalysts in sight, the Ripple-affiliated cryptocurrency may continue to attract both retail and institutional investors.
