XRP, the cryptocurrency associated with Ripple, has climbed to fifth place by market capitalization, surpassing BNB, Binance's token.
XRP's Growth and Milestone Achievement
According to CoinGecko, XRP reached a market capitalization of $96.7 billion, surpassing BNB's $96 billion. XRP is targeting the key $100 billion mark. The token surged by over 200% this November, marking its best-performing month since December 2017. On Friday, XRP surpassed the key resistance level of $1.60, and at the time of writing, its price is $1.7 — the highest since April 2021.
Impact of SEC Lawsuit on Ripple
XRP's rally is coinciding with speculation about a potential resolution of the SEC lawsuit against Ripple. Former CFTC Chairman Chris Giancarlo expressed his belief in this scenario. In 2018, XRP was the second-largest cryptocurrency, but following the SEC lawsuit in 2020, the token nearly dropped out of the top ten. Now, XRP has returned to the top five.
Prospects and Future Development
Despite the current growth, XRP is still trailing its historic high of $3.4, achieved in January 2018. However, recent developments and increased interest in the cryptocurrency suggest potential further strengthening in its market position.
The growing interest and price rise of XRP indicate possible positive developments in the cryptocurrency's advancement and its legal battles.
