XRP Reclaims Position as Third Largest Cryptocurrency Following Four-Year SEC Dispute — Insights from TradingView News

The digital asset XRP, crafted and dispersed by the American blockchain entity Ripple, has reclaimed its position as the third-largest cryptocurrency by market capitalization, eliciting a buzz within the digital currency community.

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experienced a decline from the top three in market capitalization in December 2020 following a lawsuit by the US Securities and Exchange Commission accusing Ripple of conducting an “unregistered digital asset securities offering.”

As the legal battle with the SEC nears its end and Ripple gains significant victories in the courtroom, XRP has surged, with a formidable uptick in its value following the announcement of Donald Trump’s triumph in the 2024 US presidential race.

Challenging the dominance of Tether’s USDt (USDT), Binance’s BNB (BNB), Solana (SOL), and Circle’s USD Coin (USDC), XRP has now ascended to the third spot, ranking after Bitcoin (BTC) and Ether (ETH).

“Here’s a glimpse into how things looked prior to December 22, 2020,” remarked pro-XRP attorney John Deaton on social media platform X.

Seven years out of the spotlight

Ripple’s entanglement with the SEC in December 2020 saw the XRP price plummet from approximately $0.50 to $0.17, eradicating over $15 billion from its market cap, as reported by Fox Business correspondent Eleanor Terrett in a post on Dec. 1, 2024.

“While it made a recovery, XRP remained at the seventh spot on the list for the next seven years,” Terrett further noted.

“The persistence of XRP in remaining among the top ten is quite telling,” remarked an industry observer.

Internet Search Spike: XRP Surpasses ‘crypto’

Coinciding with an impressive XRP rally in November, it has stirred a wave of online interest, leading to a surge in XRP-related searches on Google, surpassing those related to “crypto.”

Google Trends data reveals that queries for “XRP” exceeded those for “crypto” at least thrice in November.

Contemporary figures still indicate a higher search frequency for XRP over generic ‘crypto’ queries at the time of this account.

While recent data underscores the surpassing of ETH searches by those for XRP during early November, Bitcoin still remains ahead in the comparative search volumes.

The Potential Overtaking of ETH by XRP

As it stands, XRP has a considerable distance to close before it can overtake Ether in terms of market capitalization, with ETH’s market valuation exceeding that of XRP by 219%.

Cryptocurrency strategist Christopher Jaszczynski, sharing content under the alias MMCrypto on social platform X, posits that XRP will surpass ETH when its price hits $7.75.

Currently, XRP’s trading price stands at $2.35, having gained 24% over the preceding 24 hours. Since November 1st, the price of XRP has soared by 341%, with yearly gains hovering around 280%.

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