Ripple’s XRP has flipped BNB to become the fifth-largest cryptocurrency by market capitalization. XRP’s market cap reached $99 billion on Friday, its highest in over three years.
XRP is seeing strong bullish momentum, as the altcoin surged by more than 230% in November.
Is XRP Price On-Route For a Historic Comeback?
Despite being one of the largest altcoins in the market, XRP has mostly underperformed in every bull market throughout the past three years. Ripple’s lengthy legal battle with the SEC has significantly impacted the altcoin’s market activity.
However, long-term holders of the token are finally seeing a potential reward. Donald Trump’s re-election and his promise for regulatory clarity have generated notable institutional interest in the token.
The current SEC chair, Gary Gensler, has been a constant throne at the sight of Ripple. However, his resignation earlier this month generated optimism that Ripple could finally be out of the SEC’s crosshairs.
This optimism has been reflected in the recent actions of major institutional investors. Last week, WisdomTree, one of the largest global asset managers, filed for an XRP ETF in Delaware. This was the third ETF application for XRP, as Bitwise and Canary Capital joined the race in October.
“Ripple is gearing up for major upgrades to the XRP Ledger, designed to enhance liquidity and d
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Author: Mohammad Shahid
