XRP's price has significantly increased this year, rising over 470% from its yearly lows. What factors contributed to its growth, and can Ripple surpass Ethereum in market value remain pressing questions.
Significant Growth in XRP Price
On January 16, XRP managed to break through the much-anticipated price mark of $3, last seen in 2018. This occurred as the crypto market rebounded from recent dips, attracting renewed investor interest.
Ripple's Influence on the Market
Ethereum leads the altcoin market, accounting for approximately 11.67% of the total market cap. However, with XRP rising rapidly, Ethereum's dominance is in question. Since November 2024, when XRP began accelerating, Ripple has frequently been in the news. The launch of the RLUSD stablecoin and expectations for potential XRP ETF approval have boosted market sentiment and contributed to XRP's price surge.
Future of XRP and Ethereum
As XRP's price continues to surge, discussions abound about Ripple's ability to surpass Ethereum's market cap. Currently, Ripple's market cap stands at $189 billion, 110% lower than Ethereum's $412 billion. Achieving this would require XRP's price to exceed $7.5. The popularity of XRP among investors has notably increased, as evidenced by the growth in active and new accounts.
Whether Ripple can overtake Ethereum remains uncertain. However, Ripple shows substantial growth and is likely to continue strengthening its market position in the near future.
