XRP Becomes Fifth-Largest Crypto by Market Cap After 298% Rally

Exciting news in the world of cryptocurrency! XRP has surged by nearly 300% in just one month, propelling it to the position of the fifth-largest crypto asset by market cap. CoinMarketCap data reveals that XRP’s market cap now sits at around $110 billion, surpassing BNB’s valuation of $94.422 billion.

At the start of last month, BNB held the fourth spot, while XRP was ranked seventh. However, in a swift and impressive move, XRP rose from $0.491 on November 1st to $1.957 on November 30th, marking an incredible gain of 298% in just 30 days.

Currently, XRP is on the verge of surpassing Solana (SOL), which is the fourth-largest crypto asset valued at $113.416 billion. It’s an exciting development for all XRP enthusiasts and investors.

Interestingly, XRP was once the second-largest crypto asset by market cap, positioned just behind Bitcoin. However, challenges arose for the altcoin when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple in December of 2020, claiming that XRP had been sold as an unregistered security for years.

In July 2023, a turning point occurred when Judge Analisa Torres ruled that Ripple’s sales of XRP were not securities. This decision overturned the SEC’s allegations against Ripple executives Brad Garlinghouse and Chris Larsen regarding an unregistered securities offering through XRP sales.

As of the time of writing, XRP is trading at $1.94, demonstrating its continued growth and resilience in the market.

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