XRP Price Surges, Takes Over Solana, USDT to Become 3rd Largest Crypto

XRP price has achieved a major milestone, surpassing both Solana (SOL) and Tether (USDT) in market cap. It claimed the position of third-largest cryptocurrency by market capitalization.

XRP Price Surges 28% amid Market Downturn

XRP price has surged 28% in the last 24 hours, pushing its market cap to $136.3 billion and overtaking USDT’s $134 billion valuation. This impressive performance comes amid broader market weakness, showing exceptional strength and institutional interest.

The token’s momentum is evident across multiple timeframes, with gains of 63.8% over seven days, 105.6% over two weeks, and a 366.1% monthly spike. This surge stands in stark contrast to the performance of other major cryptocurrencies, with Bitcoin declining 0.2%. Ethereum dropping 0.86%, and Solana falling 3.8%.

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Ripple Ecosystem Development and RLUSD

Market sentiment has been greatly influenced by emerging developments regarding Ripple’s potential strategic initiatives.

According to analyst Del Crxpto, rumors are circulating about Ripple’s plans to custody its entire XRP escrow to establish initial reserves for RLUSD.

This move, if implemented, would enable Ripple to:

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• Mint RLUSD for ODL (On-Demand Liquidity) partners.
• Unlock substantial working capital.
• Boost XRPL liquidity.
• Maintain XRP’s circulating supply while reducing total supply.

The proposed structure suggests a sophisticated approach to ecosystem development. It also addresses both liquidity needs and supply management concerns while potentially creating new revenue streams for Ripple’s operations.

XRP Surges Amidst Positive US Crypto Regulation

The timing of XRP price surge coincides with major developments in the regulatory sphere. SEC Chair Gary Gensler’s announced departure has sparked optimism regarding potential shifts in regulatory approach, particularly concerning the ongoing Ripple vs. SEC case resolution.

This change in leadership could signal a more favorable regulatory environment for XRP and the broader cryptocurrency market.

The market’s response to these developments has been overwhelmingly positive, as evidenced by XRP’s ability to gain substantial value while other major cryptocurrencies decline. This divergence suggests strong conviction among investors regarding XRP’s long-term prospects and Ripple’s strategic initiatives.

Market participants are closely monitoring the implementation details of the RLUSD initiative, the resolution of the SEC case, and further ecosystem development announcements.

The combination of technical strength, fundamental developments, and potentially improving regulatory clarity positions XRP price for continued growth. The historic move to third place in market capitalization rankings represents a major validation of XRP’s utility and Ripple’s strategic vision.

After its recent surge, XRP price is just down by 29% from its all-time high of $3.4, which it touched on January 7, 2018. The lawsuit by the SEC had a major effect on XRP, which triggered a price drop for the coin over the past seven years.