XRP Surges to Third-Largest Cryptocurrency  

XRP, the digital currency tied to blockchain payments firm Ripple, has reclaimed its position as the third-largest cryptocurrency by market capitalization, marking a significant milestone that has reignited enthusiasm in the crypto community.  

Ripple’s Legal Struggles and XRP’s Fall from Grace

XRP’s return to prominence comes nearly four years after it tumbled from the top three cryptocurrencies. In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, accusing the company of conducting an “unregistered digital asset securities offering.” The lawsuit caused XRP’s price to plummet from around $0.50 to $0.17, erasing more than $15 billion in market value.  

For years, XRP remained locked in the #7 spot, trailing stablecoins like Tether (USDT) and Circle’s USD Coin (USDC), as well as Binance’s BNB and Solana (SOL). Despite the downturn, XRP never fell out of the top 10—a testament to its resilience, as noted by analysts and market watchers.  

Legal Victories and a November Surge

Ripple’s fortunes began to turn in 2024, with the company securing key legal victories in its ongoing battle with the SEC. These developments, coupled with broader market optimism following Donald Trump’s victory in the U.S. presidential election, fueled a sharp rally in XRP’s price throughout November. The cryptocurrency’s dramatic breakout saw it surpass USDT, BNB, and other competitors, reclaiming the coveted third position behind Bitcoin (BTC) and Ether (ETH).

“This is how it looked before Dec. 22, 2020,” prominent XRP advocate and attorney John Deaton remarked on X (formerly Twitter), referencing XRP’s pre-SEC lawsuit standing.  

XRP Dominates Google Searches

XRP’s resurgence has not only boosted its market cap but also its online visibility. Data from Google Trends reveals that in November, searches for “XRP” surged past those for “crypto” on multiple occasions. Additionally, XRP-related searches surpassed those for Ethereum (ETH) in early November, though Bitcoin remains the most searched cryptocurrency globally. Fox Business reporter Eleanor Terrett highlighted XRP’s resilience, noting that while the token’s price eventually rebounded, it took four years to climb back to the top three. “The fact that it never fell out of the top 10 said a lot,” she emphasized.