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XRP has overtaken 
Tether (USDT) to become the world’s third-largest cryptocurrency by market capitalization, following a dramatic price surge.
What’s the Scoop?
- Skyrocketing price: XRP’s market cap reached $141.8 billion, surpassing USDT’s $134.5 billion. Its price rose 30% in 24 hours to $2.46, with a monthly increase of 364.1%.
- Stablecoin approval? The surge follows reports that NYDFS may approve Ripple’s RLUSD stablecoin by Dec. 4 as well as SEC Chair Gary Gensler’s upcoming resignation easing legal pressures on Ripple.
- Next spot ETF? XRP ETFs are being explored by major asset managers, signaling institutional interest.
Bankless Take
XRP’s explosive growth reflects shifting dynamics in regulatory and institutional sentiment. The RLUSD stablecoin approval could solidify Ripple’s role in the digital asset space, while Gensler’s departure might pave the way for resolution in ongoing SEC litigation. However, sustaining this momentum depends on leveraging ecosystem growth and institutional adoption. The upcoming ETF decisions will serve as a litmus test for XRP’s broader market acceptance.
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