XRP has reached a new height by overtaking USDT in the crypto market. The coin climbed to the number 3 position, placing itself just behind the Bitcoin and Ether in the market cap rankings. XRP’s cap has risen to $141 Billion over the past few weeks, while Tether’s was around $137 billion.
According to our analysis, XRP’s cap reached $137.97 billion in the first week of January. The coin had an impressive rise of 17% over the last couple of weeks and almost 280% in the past year. On the other hand, Tether’s market cap has decreased by $1.6 billion since December 30. Market experts believe that the price drop was because of the European Union’s Market’s new Crypto-Assets Regulation (MiCA). They claim that USDT holders need to get a license to trade within the EU.
The new regulations have already brought many changes to the market. Firstly, Coinbase Europe delisted USDT from their platform, mentioning the issue with MiCA compliance. They are focusing on their own stablecoin instead. In December, USDT had the highest share in the market, holding 67.21% of the $204 billion total value. Despite the decrease, the USDT user base grew by 11.7% in December.
Multiple asset managers, like WisdomTree, Bitwise, Canary Capital, and 21Shares, have filed for permission to launch XRP ETFs in the USA. As a result, the investors will have a more convenient exposure to XRP. The crypto analyst predicted the surge earlier when Donald Trump was elected as the U.S. president back in November.
Ripple’s initiatives have strengthened XRP’s position in the market. In December, Ripple introduced a new US dollar-based stablecoin, RLUSD, designed to support faster and cheaper cross-country transactions. This coin already has around $72 million in market cap, which is expected to integrate with Ripple Payments in early 2025. The main goal is to conduct transactions for big clients. Ripple also increased their liquidity by unlocking 500 million XRP from escrow. They have a stable trading volume in different platforms; for example, XRP’s daily activity in South Korea’s Upbit exceeded $1.3 billion at one point.
Investors are optimistic about the coin’s prospects. Some believe that the coin’s price may rise to $8 and $20 during the current market cycle. The coin has gathered attention from investors around the world, as they are streamlining cross-border payments, providing lower fees and integrating with new tools like RLUSD.
XRP’s rise to the third position has highlighted its potential in the crypto market. XRP has plenty of opportunities to grow due to the ETF filings, regulatory changes, and product launches for Ripple. With a market cap of over $141 billion, XRP is one of the most potential cryptos to invest in 2025. .
