XRP Surpasses $2.50, Market Cap Hits $143B, Overtakes Tether to Become Third-Largest Cryptocurrency

Dec 1, 2024, 10:23 PM

XRP, the cryptocurrency associated with Ripple Labs, has experienced a significant surge, with its price surpassing $2.50, marking its highest level since 2018. The token's market capitalization soared to an all-time high of over $143 billion, overtaking Solana's SOL and Tether's USDT to become the third-largest cryptocurrency after Bitcoin and Ethereum. XRP's price has increased by over 360% in the past month, driven by anticipation of regulatory approvals such as the New York Department of Financial Services potentially approving Ripple's RLUSD stablecoin. The 24-hour trading volume reached $18 billion, with significant activity on exchanges like Upbit, where XRP accounted for 27.35% of trading volume at $3.69 billion. This surge contributed to the broader cryptocurrency market's growth, pushing the total market capitalization to $3.65 trillion. The rally in XRP and other altcoins highlights a strong altcoin season.