- XRP price surges 500% recently, narrowing gap to Ethereum’s $436.3B market cap.
- XRP needs an 83.4% rise to surpass Ethereum’s market capitalization.
- Ripple’s legal win boosts XRP adoption and investor confidence significantly.
XRP trades at $2.37 per coin at press time, having emerged as a significant player in the cryptocurrency market. XRP ranks fourth place with a market capitalization of $136.3 billion. For XRP to surpass Ethereum’s market capitalization, it needs to be higher than $4.36 per token, an increase of 83.4%.
Recent growth, positive trends, and a court win for Ripple have brought it closer to competing with Ethereum, the second-largest cryptocurrency with a market valuation of $436,301 billion and a price of $3,621.87.
Legal Advancements and Market Sentiments
The current price of XRP increased almost 500% in the past months influenced by the courtroom triumph in the Ripple v.s SEC case. The ruling determined that XRP as non-security, marking a win for Ripple. This contributed to growing trust among investors and institutions.
This legal certainty has promoted using XRP and set it up for a possible market opportunity. XRP’s utility and partner support has been due to Ripple’s consistent efforts, yet it remains below its 2018 record price of $3.30.
The role of ETFs and regulatory modifications
Market participants can closely monitor cryptocurrency’s evolution in the current debates over regulations. The shift towards an XRP-backed exchange-traded fund has also gained popularity and is anticipated to introduce new investment and liquidity opportunities.
The upcoming change of political administration in the United States may affect cryptocurrencies and add more clarity to digital currencies, including Ripple’s XRP. The optimism investors show in the market highlights that such changes could impact XRP’s market performance.
