XRP, linked with Ripple, has recently outpaced Binance’s BNB, securing the fifth spot in cryptocurrency market capitalization, now approaching the $100 billion mark, as detailed by CoinGecko. This achievement comes after XRP experienced a significant rally, increasing over 200% in November, its best performance since December 2017, with its value reaching a high of $1.7 – a peak not observed since April 2021.
This surge is largely attributed to the speculation that the SEC might withdraw its lawsuit against Ripple, especially in light of expected changes in the commission’s leadership. This sentiment was echoed by Chris Giancarlo, a former CFTC Chairman, who expressed confidence in such an outcome.
Despite facing challenges, including a significant lawsuit from the SEC that once threatened its position in the top 10 cryptocurrencies, XRP’s comeback into the top 5 is noteworthy. This rise indicates a resilient rebound, although the token’s value is still below its all-time high of $3.4 from January 2018.
