XRP has surpassed BNB and Solana in the cryptocurrency market.

Significant developments continue to occur in the cryptocurrency market. XRP has reached its highest level since the beginning of 2018, approaching a market value of $121 billion. This success is supported by positive expectations regarding Donald Trump's election victory and the future of the legal process with the SEC.

XRP Ranks Third After Bitcoin and Ethereum by Market Capitalization

The recent rise of XRP has changed the dynamics in the cryptocurrency market. As of the publication date, the price of XRP has exceeded $2. This level is recorded as the highest value seen since the beginning of 2018 when XRP reached its all-time high of $3.40.

This market activity is directly related to SEC Chairman Gary Gensler's announcement in January that he would be leaving the agency. Gensler's decision opened a new chapter in the lawsuit that began in 2020, accusing Ripple of a $1.3 billion unregistered securities sale.

Following the approval of spot Bitcoin and Ethereum ETFs, financial institutions' interest in XRP ETFs is increasing. Many institutions are also preparing similar fund applications for other cryptocurrencies like Solana.