XRP, the cryptocurrency developed by the United States blockchain firm Ripple, has returned to the third position by market capitalization, sparking discussions in the community.
XRP's Comeback to the Top 3
In December 2020, XRP dropped out of the top three cryptocurrencies by market cap after the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple for allegedly offering unregistered securities. With the resolution of the lawsuit nearing and several legal victories in 2024, XRP's value surged, particularly following Donald Trump's victory in the US presidential election in November, leading to a significant price increase.
Four Years as the Seventh Largest Cryptocurrency
When the SEC sued Ripple in 2020, the price of XRP fell from $0.50 to $0.17, wiping off more than $15 billion in market value. However, the price recovered, and XRP remained at the seventh spot for the next four years among the largest cryptocurrencies. Notably, XRP never fell out of the top 10 during this period.
XRP's Popularity in Google Trends
In November, XRP experienced a surge in popularity, with Google searches for 'XRP' surpassing those for 'crypto.' According to Google Trends data, 'XRP' searches overtook 'crypto' searches several times, indicating ongoing interest in the cryptocurrency.
XRP has strengthened its market position, re-emerging as the third largest cryptocurrency by market capitalization. Its rising popularity is also reflected in increased Google search volumes.
