XRP Surges to Third-Largest Cryptocurrency, Breaking Google Search Records
XRP, the cryptocurrency developed by Ripple Labs, has reclaimed its position as the third-largest digital asset by market capitalization, a milestone it last held in December 2020. This resurgence comes amid a wave of community excitement, heightened by XRP-related Google searches surpassing those for "crypto."
From Legal Struggles to Market Triumph
XRP’s fall from grace began in December 2020 when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging the company conducted an unregistered securities offering. The lawsuit caused XRP's price to plummet from $0.50 to $0.17, wiping out $15 billion in market value and pushing it to the seventh spot in the cryptocurrency rankings.
Despite years of legal challenges, Ripple has secured notable victories in 2024, leading to renewed investor confidence. XRP’s price skyrocketed in November following Donald Trump's re-election as U.S. President, helping it overtake Binance’s BNB, Solana’s SOL, and Circle’s USDC in market cap. XRP now trails only Bitcoin (BTC) and Ether (ETH).
Google Searches Signal XRP's Growing Popularity
Beyond its market resurgence, XRP has dominated online interest, with Google Trends data showing "XRP" searches surpassing "crypto" searches multiple times in November. The token also briefly surpassed Ether (ETH) in search volume, though it remains behind Bitcoin in global interest.
“This level of attention for XRP is unprecedented,” noted one analyst. The coin's ability to maintain a spot in the top 10 throughout its legal turmoil further underscores its resilience.
Can XRP Challenge Ethereum?
Although XRP’s rally is impressive, it still has a long way to go to dethrone Ethereum as the second-largest cryptocurrency. At the time of writing, XRP’s market cap is 219% smaller than ETH's.
Analysts believes XRP could overtake ETH if its price hits $7.75—a significant leap from its current $2.35. The token has posted staggering growth, with a 341% price increase in November alone and annual returns exceeding 280%.
A New Era for XRP
XRP’s historic comeback signals a shift in the cryptocurrency landscape. Whether it can sustain this momentum and challenge Ethereum remains to be seen, but its recent performance has reinvigorated its community and reestablished its place among the top digital assets.
As the SEC case approaches resolution, XRP’s future looks brighter than ever.