XRP Surpasses Bitcoin and Ethereum, Leading the Crypto Rally in 2024

XRP has experienced a significant rally, surging 370% since President-elect Donald Trump’s pro-cryptocurrency stance, outpacing Bitcoin and the broader market.

This has positioned XRP as the third-largest cryptocurrency by market cap, surpassing Solana.

The rally is largely attributed to changing regulatory sentiment. After XRP’s legal battle with the SEC, which ruled it’s not a security when sold to individual investors, but is to institutions, market optimism around regulatory clarity has grown.

Analysts, including Matt Hougan of Bitwise Asset Management, believe XRP is benefiting most from this shift.

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Ripple, the company behind XRP, has used the token for cross-border payments, though it’s faced skepticism over its real-world use.

Despite criticisms of its lack of adoption in business applications, XRP’s low-energy consensus mechanism and enduring community interest give it a competitive edge over more energy-intensive cryptocurrencies like Bitcoin and Ethereum.

XRP’s unique features, combined with the ongoing regulatory evolution, leave it well-positioned for continued relevance in the crypto space.

Alexander Stefanov