- To surpass Ethereum, XRP’s market cap must reach at least $440 billion and rally to $7.71 per coin to claim the $440 billion market cap.
- XRP’s strong performance has fueled predictions of a possible rise to $5-$8 or higher, as it aims to challenge Ethereum for the second-largest crypto position.
XRP has garnered significant attention from the cryptocurrency community. This comes after the digital asset repainted the picture from the worst performer to the biggest gainer in the past 30 days.
With the advent of December, XRP surged past its 2021 high of $1.96 reaching $2. This propelled the asset to a seven-year high, reclaiming a $100 billion market cap and subsequently reaching an all-time high.
Can XRP Reclaim its Position as the Second-Largest Crypto?
Reminiscing, XRP was treading behind Bitcoin in 2017 and early 2018 before the U.S. Securities and Exchange Commission took to the courts claiming the company broke the law when it raised money by selling the digital token without registering it as a security. The case has been closely watched because of its implications for the SEC’s regulatory power over crypto.
Come January 7 2018, while XRP still held the same position, the digital asset attained its all-time high of $3.40 during the peak of the 2017-2018 crypto bull market. Also worth mentioning, at this glorious moment, XRP’s market cap was around $130 billion.
Fast foward to December this year, XRP’s market cap marked a new milestone attaining a new ATH of around $160 billion. As we earlier reported, recently XRP experienced a remarkable surge which left the asset trailing all the way up. XRP has shattered the crypto chains, roaring past the $2 mark, claiming the coveted third spot on Satoshi Street, dethroning crypto titans like Solana and USDT.
At the time of writing, XRP is swapping hands with $2.67 marking a 15.20% surge in the past 24 hours. Additionally, with a market cap of $152.24B, XRP has also recorded a 90.64% and 428.08% in the past week and month respectively.
Taking a closer look at the crypto rankings, it was important for XRP to touch the $2 threshold in order to surpass stablecoin giant USDT as the third largest cryptocurrency. On the other hand, speculations have widely spread that XRP is on the verge of surpassing altcoin king Ethereum and reclaim its place as the second largest crypto asset.
With that already in mind, the altcoin must aim for a much higher price market value to surpass Ethereum. However, the altcoin is capable of reaching these price levels with a rally of less than 200% from here.
Currently, Ethereum’s market cap is hovering around $439.6 billion. To surpass Ethereum, XRP’s market cap must try and reach at least $440 billion. Another important factor is its circulating supply. With its current circulating supply of 57.051 billion tokens, the token must rally to $7.71 per coin to claim the $440 billion market cap.
XRP’s price rally has gathered significant attention. Notably, Tony Edward, the mind behind the Thinking Crypto Podcast, recently weighed in on XRP’s potential this cycle. He predicts the token could reach $5 to $8, though he’s open to it surpassing that range.
