XRP's significant market movement saw it surpass the $2 mark, positioning it as the third-largest cryptocurrency by market capitalization. This shift has created discussions about its ability to challenge the dominance of Ethereum in the crypto space.
The XRP market cap exceeding $135.37 billion allowed it to overtake both USDT and Solana. Crypto enthusiasts are speculating about its future prospects and challenges against Ethereum, valued at $441.46 billion.
Ripple's ongoing legal battle with the US SEC has been central to XRP's market performance. Recent insights from Hinman emails revealed internal SEC disagreements about cryptocurrency regulatory status, though XRP remains without regulatory clarity.
Recent rumor mills have suggested Ripple's CEO Brad Garlinghouse's potential political role could bolster XRP, further highlighted by his possible candidacy for "crypto czar" under Donald Trump’s administration.
Experts predict that regulatory landscape changes, including potential resignations, might influence Ripple's legal outcomes. Such developments could end XRP's extended period of regulatory ambiguity.
Despite recent gains, there are warnings of possible profit-taking by large holders, indicated by whale-to-exchange transaction spikes, suggesting volatility in XRP’s price movements.
