XRP Reclaims Third Spot in Market Cap, Surpassing “Crypto” in Google Searches
XRP, the cryptocurrency associated with Ripple, has made a remarkable comeback, reclaiming its position as the third-largest cryptocurrency by market capitalization. This resurgence has garnered significant attention, with Google searches for “XRP” surpassing those for “crypto” in recent weeks.
XRP’s Journey Back to the Top
The cryptocurrency fell out of the top three in December 2020 when the SEC filed a lawsuit against Ripple, accusing the company of conducting an unregistered securities offering. Following this, XRP’s price plummeted from $0.50 to $0.17, erasing over $15 billion in market value. Over the next four years, XRP held the #7 spot among cryptocurrencies but never dropped out of the top 10, demonstrating its resilience.
In 2024, Ripple secured several legal victories as the SEC lawsuit neared resolution. Coupled with market optimism following Donald Trump’s U.S. presidential election win, XRP experienced a significant rally, culminating in a sharp price increase in November.
Current Market Position
XRP is now the third-largest cryptocurrency by market cap, trailing only Bitcoin and Ethereum. It has overtaken prominent tokens like Tether (USDT), Binance Coin (BNB), Solana (SOL), and USD Coin (USDC). Pro-XRP advocates highlight that the coin’s current status mirrors its position before December 2020.
XRP Outshines Crypto in Web Searches
XRP’s recent surge has also been reflected in online interest. Google Trends data reveals that searches for “XRP” surpassed those for “crypto” multiple times in November. At one point, XRP even overtook Ethereum (ETH) in search popularity but has yet to surpass Bitcoin in this metric.
Future Outlook
Despite its impressive growth, XRP still has a significant gap to close before surpassing Ethereum in market capitalization, which currently exceeds XRP by 219%. Crypto analyst Christopher Jaszczynski predicts that XRP could overtake ETH if its price rises to $7.75.
As of now, XRP is trading at $2.35, up 24% in the last 24 hours. Since November 1, the cryptocurrency has seen a staggering 341% increase, delivering annual returns of approximately 280%. These figures highlight XRP’s continued strength as it builds on its momentum.
