XRP Rips to Record Market Cap of $160B, Leapfrogs Tether for Third Place in Rankings

Hype around the launch of XRP exchange-traded funds is fueling the price gains that float under the all-time high of $3.30.

• XRP (XRP/USD) ripped to levels above $2.80 early Tuesday before toning it down a bit to settle near $2.70 as traders expressed their big belief in the token’s future adoption. The community is now betting heavily that the first US-based spot XRP exchange-traded funds might materialize some time in 2025. With this in mind, XRP is up roughly 400% in the past 30 days and its market cap has hit a record high of $160 billion.
• The rally was so good that XRP’s valuation leapfrogged Tether as the third most valuable cryptocurrency, right behind Bitcoin and Ethereum. Tether, a stablecoin, carries a market cap of about $135 billion. Solana, another strong contender for the Top 5, boasts a valuation of $107 billion and is also expected to make the cut for the ETF space next year. Overall, crypto bros are hyped for the growth prospects under President-elect Trump.
• Donald Trump and his administration are expected to do great things for the crypto industry. Deregulation, lower taxes and higher tariffs on imports are only some of the ways to help digital assets scale to new highs and cover new grounds on the adoption front. Moreover, Elon Musk, who was appointed head of DOGE, is also in there, rubbing shoulders with the President-elect, and that’s seen as a bullish sign for crypto (not just Dogecoin.)