Cryptocurrency XRP, the third-largest by market capitalization, has surpassed Uber's market value, drawing attention from analysts and traders. Recent developments in Ripple's legal battles with the SEC play a crucial role in this change.
XRP Price Surge Compared to Uber
The market capitalization of the XRP token reached $196.6 billion, surpassing Uber's valuation of $193.7 billion. This rise was enabled by updates regarding Ripple's case with the SEC, which supported investor optimism. In recent weeks, XRP's price increased by 8%, jumping from $2.99 to $3.30, allowing it to overtake companies like PepsiCo and HDFC Bank.
Ripple SEC Case Closure: Market Impact
One of the main drivers of the surge is the potential resolution of Ripple's legal dispute with the SEC. Both sides have agreed on a joint motion to dismiss the case, which is viewed as a final chapter in a process that has lasted for five years. Regulatory wins usually lead to price spikes, which is exactly what has transpired at this moment.
Short-term and Long-term XRP Predictions
Analysis shows that XRP is holding above $3.20, which serves as strong short-term support. MACD indicators hint at a possible bullish crossover in the upcoming days, which might lead prices toward $3.50–$3.70. Short-term expectations point to further gains, but long-term projections suggest XRP could exceed $200 billion in market capitalization, potentially pushing it towards double-digit pricing.
If Ripple can secure a favorable settlement and accelerate adoption, XRP's market capitalization might not only remain above Uber's but also rise to higher levels. However, the question of reaching $10 in the near future remains.
