02.12.2024 16:50
The digital asset XRP of the blockchain company Ripple, based in the United States, has risen to third place by market capitalization after a four-year legal battle with the SEC. Following Donald Trump's presidential victory, XRP experienced a significant increase in November, and its Google search trends surpassed those of general cryptocurrency searches.
After being pushed down to seventh place due to the lawsuit initiated by the U.S. Securities and Exchange Commission (SEC) over "unregistered digital asset securities offerings," XRP has settled into third place after a challenging four years. With a significant increase in market value, XRP has surpassed strong competitors like Tether (USDT), Binance Coin (BNB), and USD Coin (USDC).
The XRP Wave in the Cryptocurrency Market
Ripple's native cryptocurrency XRP has gained 341% in value over the past month due to positive developments in the SEC case and the impact of the U.S. presidential elections. The price of XRP has surged from $0.17 to $2.35, making it the center of attention for investors.
The popularity of XRP in the cryptocurrency world is also reflected in Google searches. In November, XRP was searched more frequently than the term 'crypto,' surpassing general cryptocurrency searches at least three times.
While XRP's rise in the market continues, it has a long way to go to surpass Ethereum. According to cryptocurrency investor Christopher Jaszczynski, XRP needs to reach a price of $7.75 to overtake ETH. This target predicts that XRP's market value needs to increase by 219% more.