The XRP token, which is linked to Ripple Labs, has become the fourth-largest cryptocurrency in the world in terms of market cap, after a weeks-long rally triggered by President-elect Donald Trump's election win in November and recent speculation about the SEC potentially dropping its legal case against Ripple.
The Ripple-linked XRP token briefly became the third most valuable cryptocurrency in the world on ... [+]
The price of XRP rose above $2.50 early on Monday, before dropping slightly to $2.30—a 21% surge over the past 24 hours and nearly a 50% increase compared to last week.
Since Trump’s electoral victory, Ripple’s market cap has risen from around $30 billion to $131 billion on Monday.
XRP’s market cap crossed $100 billion for the first time since 2018 over the weekend, as it overtook Solana’s SOL to become the world’s fourth most valuable cryptocurrency.
XRP also briefly overtook Tether’s USDT stablecoin market value early on Monday, before settling slightly below it.
This is a developing story.