In a stunning weekend rally, XRP reclaimed its place as one of the top three cryptocurrencies by market capitalization, surpassing both Solana (SOL) and Tether (USDT). The token’s meteoric rise comes after years of price stagnation and legal battles.
Moreover, Charles Gasparino, a Senior Correspondent at Fox Business, recently claimed that the SEC’s appeal in the Ripple-SEC case would be dropped. This also added to positive sentiment, reigniting hopes among its dedicated community, the XRP Army.
A Meteoric Comeback
XRP surged above $2 on Sunday night, pushing its market capitalization to over $140 billion and surpassing USDT’s $134 billion. This marks the first time XRP has approached its 2018 all-time high of $3.40 in over five years. Fueling this rally was a combination of legal developments and technical momentum.
Charles Gasparino of Fox Business hinted last week that the U.S. Securities and Exchange Commission (SEC) might drop its appeal against Ripple Labs, the largest holder of XRP. Gasparino suggested the SEC’s case had no errors on the disputed points it lost, rather than being politically motivated.
Technical indicators added to the excitement. Barchart highlighted the formation of a “God Candle” on XRP’s price chart, signaling strong bullish momentum. Over the past week, the token has spiked more than 80%, with a 30% gain in the last 24 hours alone. This surge has sparked renewed optimism, with some speculating XRP might soon challenge Ethereum (ETH) for the second spot in crypto rankings.
Vindication for XRP Army
XRP’s return to prominence feels like redemption for its loyal supporters, who endured years of price suppression following the SEC’s lawsuit against Ripple in late 2020. The legal uncertainty had driven XRP below $1, stalling its progress and tarnishing its once-strong reputation as a Bitcoin challenger.
With the lawsuit now leaning in Ripple’s favor, the token’s resurgence has revitalized its community. Social media platform X (formerly Twitter) was abuzz with celebratory memes and messages from holders, many of whom proudly declared their steadfast belief in the XRP Ledger’s potential. “The $XRP train has left the station,” exclaimed one holder, Edward Farina, encapsulating the euphoria among supporters.
Analysts like Jacob King have doubled down on XRP’s future, calling it “the only cryptocurrency with a feasible chance of surpassing Bitcoin.” As the token trends across financial media, its comeback not only underscores its resilience but also hints at its ambition to once again be a dominant force in the crypto world.
The post XRP Soars Past Solana and Tether to Reclaim Top 3 Spot in Crypto Rankings appeared first on TheCoinrise.com.
