XRP has risen to the third position in the cryptocurrency ranking by market capitalization, surpassing Tether (USDT) and Solana (SOL). According to CoinMarketCap, the market cap of XRP has exceeded 1.35 trillion USD, only behind Bitcoin (BTC) and Ethereum (ETH).

In the past week, XRP increased nearly 70%, pushing the price up to nearly 2.5 USD, a level not seen in nearly seven years.

What caused the price increase?

The price surge of XRP stems from political and regulatory developments, along with market speculation. Donald Trump's election as President of the United States has fueled excitement in the cryptocurrency market.

Additionally, there are reports that Ripple's stablecoin RLUSD may be approved by NYDFS, along with expectations of ending the lawsuit with the SEC, which has bolstered investor confidence.