Cross-border payments solution XRP is now the fifth-largest crypto by market capitalization after rallying by nearly 300% in just one month.
Data from CoinMarketCap shows that XRP’s market cap is now hovering at around $110 billion, well above BNB’s valuation of $94.422 billion.
BNB, the native asset of the Binance ecosystem, was the fourth-largest crypto asset at the start of last month while XRP was ranked seventh. But XRP furiously rallied from $0.491 on November 1st to $1.957 on November 30th, printing staggering gains of 298% in as little as 30 days.
XRP is now closing in on Solana (SOL). The layer-1 altcoin and Ethereum (ETH) rival is currently the fourth-largest crypto asset valued at $113.416 billion.
About six years ago, XRP stood as the second-largest crypto by market cap just behind Bitcoin (BTC). But things went downhill for the payments altcoin after the U.S. Securities and Exchange Commission (SEC) sued Ripple in December of 2020, alleging that the firm has been selling XRP as an unregistered security for years.
In July 2023, XRP exploded after Judge Analisa Torres ruled Ripple’s automated, open market sales of XRP are not securities. Judge Torres also tossed out the SEC’s allegations that Ripple executives Brad Garlinghouse and Chris Larsen personally conducted an unregistered securities offering by selling XRP.
At time of writing, XRP is trading for $1.94.
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