XRP Overtakes BNB As Fifth-Largest Crypto, Market Cap Nears $100 Billion

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of market fluctuations and regulatory changes. The recent surge in XRP‘s price and market capitalization has certainly caught my attention, and I must admit, it’s reminiscent of the early days of Bitcoin’s meteoric rise.

As a crypto investor, I’m thrilled to share that Ripple‘s XRP surpassed Binance Coin (BNB) to claim the fifth spot among the largest cryptocurrencies by market capitalization. On Friday, XRP’s market cap soared to an impressive $99 billion, marking its highest point in over three years. This growth is quite encouraging and I can’t wait to see where this journey takes us next!

XRP is seeing strong bullish momentum, as the altcoin surged by more than 230% in November. 

Is XRP Price On-Route For a Historic Comeback?

Regardless of its status as a major player among alternative cryptocurrencies, XRP has generally lagged behind in all previous bull markets over the last three years. The ongoing legal dispute between Ripple and the SEC has notably influenced XRP’s trading dynamics.

On the other hand, those who have held onto the token for a longer period may now find some return on their investment. The prospect of Donald Trump’s re-election and his commitment to providing regulatory certainty has sparked significant institutional interest in the token.

Recently, Gary Gensler, who is currently leading the Securities and Exchange Commission (SEC), has been a persistent figure in the case of Ripple. His recent resignation earlier this month has sparked optimism among Ripple supporters, as they hope that this could mean Ripple may no longer be under the SEC’s scrutiny.

This optimism is evident in the recent moves made by significant financial investors. For instance, just last week, WisdomTree, a prominent global asset manager, submitted an application for an XRP Exchange-Traded Fund (ETF) in Delaware. This is the third such application for XRP, as Bitwise and Canary Capital filed theirs back in October.

As an analyst, I’m eagerly anticipating the significant updates Ripple is preparing for its XRP Ledger. These advancements aim to boost liquidity and attract institutional investors, potentially channeling hundreds of millions into XRPL tokens, particularly within the DeFi sector. This is according to influencer Brett’s recent insights shared on his platform X (previously Twitter).

Should it be granted, a XRP Exchange-Traded Fund (ETF) could draw in additional institutional investments towards the altcoin, possibly boosting its market appeal. This pattern mirrors what occurred with Bitcoin, as the approval of Bitcoin ETFs led to an increase in institutional interest in the cryptocurrency.

In essence, it’s expected that the Trump administration may create a favorable regulatory environment for cryptocurrencies by 2025. The president-elect is said to be contemplating a reduction in capital gains tax for all U.S.-based cryptocurrencies, such as XRP, which could potentially encourage their use and investment.

It’s also worth mentioning that Brad Garlinghouse, Ripple’s CEO, has been a supporter of Donald Trump’s campaign, and recently contributed $25 million to the 2026 U.S. midterms. This suggests a strong possibility of pro-XRP regulations in the U.S., which could boost the demand for altcoins.

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2024-11-30 00:47