Ripple’s XRP has surged past Tether (USDT) in market capitalization, cementing its position as the third-largest cryptocurrency.
With Bitcoin (BTC) and Ethereum (ETH) holding the top two spots, XRP’s recent rally to $2.40 marks a significant milestone, fueled by a wave of bullish momentum and market optimism.
As the global crypto community witnesses this historic shift, analysts are buzzing with predictions of new all-time highs (ATH) for XRP in the ongoing bull market.
Read: XRP Price Has Surged During the Last Few Months: What’s Driving the Bull Run?
XRP Surpasses USDT: The Numbers Behind the Surge
According to data from CoinMarketCap, XRP’s market capitalization soared to an impressive $133.94 billion, reflecting a 27.27% increase in the past 24 hours. This surge was accompanied by a staggering 24-hour trading volume of $30.39 billion, a remarkable 150% uptick that underscores the altcoin’s heightened investor interest.
The price of XRP is currently at $2.40 as of 2nd December, just shy of its previous ATH of $3.84, achieved seven years ago. Analysts anticipate XRP breaking past this level soon, driven by robust market sentiment and Ripple’s recent triumphs in regulatory battles.
Ripple’s Win Against the SEC: Catalyst for the Bullish Rally
Ripple’s prolonged legal tussle with the U.S. Securities and Exchange Commission (SEC) has been a major roadblock for XRP.
However, Ripple’s partial victory in court earlier this year has rekindled investor confidence. The ruling clarified that XRP is not necessarily a security when traded on secondary markets, reducing regulatory uncertainties that previously hindered its growth.
This legal clarity has catalyzed a renewed wave of investment in XRP, positioning it as one of the top-performing assets in the current bull cycle.
XRP’s Path to a New All-Time High
With the price pump to $2.40, XRP is not just reclaiming lost ground but is also setting the stage for a historic breakout. Analysts predict a potential ATH of $4.804 in the near term, with even loftier targets suggesting two-digit or three-digit price zones by the end of this bull cycle.
Seasoned crypto experts point to several factors that could propel XRP to these heights:
- Strong Market Momentum: XRP’s rapid recovery and trading volume surge signal robust demand.
- Institutional Adoption: Ripple’s partnerships with major financial institutions globally are expanding the utility of XRP as a bridge currency.
- Bullish Sentiment in Altcoins: The ongoing crypto bull market has ignited renewed interest in altcoins like XRP.
The Role of RLUSD in XRP’s Momentum
Ripple’s ecosystem expansion through the introduction of its stablecoin RLUSD has added another layer of optimism to XRP’s growth story. RLUSD’s approval has been hailed as a game-changer, enhancing Ripple’s offering for cross-border payments and increasing XRP’s use cases.
Analysts suggest that RLUSD could bolster XRP’s price trajectory by attracting new institutional and retail investors, solidifying Ripple’s position as a leader in blockchain technology.
Implications for the Crypto Market
XRP’s meteoric rise underscores a larger narrative within the cryptocurrency market. With XRP dethroning USDT, it signals a shift in investor preference toward assets with tangible utility and strong fundamentals.
The crypto market’s response to Ripple’s achievements indicates growing optimism for a decentralized financial future. As XRP edges closer to its ATH, the ripple effect of this milestone could inspire other altcoins to follow suit.
Final Thoughts
The ongoing bull cycle has reignited the potential of XRP, transforming it into a beacon of hope for investors who endured years of uncertainty. As XRP surpasses USDT to claim the third spot in market capitalization, it paves the way for new price milestones and greater adoption.
With predictions of a $4.804 ATH on the horizon, XRP is not just making waves—it’s shaping the future of cryptocurrency. For investors and enthusiasts alike, this is a moment to watch as Ripple’s XRP continues its journey toward unprecedented heights.
Read: 5 Key XRP Price Correction Signs Investors Can’t Ignore!
