XRP is now the third-largest cryptocurrency by market capitalization, displacing Tether (USDT). The feat was achieved when the price of XRP surged past $2, taking its market capitalization over the $140 billion mark.
CoinMarketCap data showed the rates at which XRP surged past it, flipping Solana (SOL) before flipping Tether. During the flip, its market capitalization was $134 billion, making it much larger than USDT. This is good news for XRP, as it has had a torrid time in courts and the markets in the last couple of years.
‘God Candle’Emerges as XRP Soars
An instance of this feature of charts is the god candle that has started to form as Ripple’s XRP soars. Recently, XRP provided technical signs of a sustainable buying interest in its prices. Barchart also pointed out a ‘God Candle’, a very strong bullish signal on the charts. The price change has not been short-lived in about XRP because the cryptocurrency was up by more than 30 percent in the last 24 periods and at least 80 percent in the last week.
XRP price late Dec. 1, 2024
These changes have brought fresh enthusiasm back to the market as some analysts have started wondering whether XRP can overtake Ethereum and become the second cryptocurrency in market capitalization.
Returning to its Original after Legal Setbacks: The Case of XRP
This is the recovery year for XRP since the legal battle with the U.S. Securities and Exchange Commission began at the end of 2020. This lawsuit dealt massive blows to Ripple, and XRP traded way below the $1 mark for a long time.
However, recent legal activities and satisfactory clarification completed in the regulation field have made investors regain their confidence. The token’s faithful supporters and holders have referred to themselves as the XRP Military, and so they have been thrilled to see XRP come to life again. On Sunday, they filled social media with memes. Throughout the low-price period, the token has been supported by a strong community.
Experts share views on XRP’s prospects
Crypto experts have pointed out good chances for XRP to keep rising. An influential commentator in cryptocurrency, Jacob King, posted a chart on Twitter hinting at one day XRP surpassing Bitcoin. King also concentrated on the functionality of XRP and denied coming out of bash critics from Bitcoin maximalists and explained they are mistaken as XRP has real-life uses.
Recent talks of approval for an XRP ETF have seemed to fuel the celebrations further. If so, new institutional money may flow into the ETF, increasing its domination in the XRP market.
Conclusion
RXPs ascent to third place among cryptocurrencies has again ignited the passion of its supporters and the market in general. Thus, with constant application, rising popularity, and recent legal blessings, XRP will continue to be part of the growing crypto universe.
