The post Will History Repeat Itself? Can XRP Dethrone Ethereum as the Second Largest Cryptocurrency with a Bullish Tailwind? appeared on BitcoinEthereumNews.com.

XRP has surged 22% this week, sparking speculation among prominent traders and influencers that it could soon surpass Ethereum (ETH) in market value. At Ethereum’s current price of $3,203, XRP would need to rise to $6.75 per token (a 134% increase from its current value of $2.94) to surpass Ethereum’s $397 billion market cap. XRP’s current market cap stands at around $164 billion, leaving a gap of $233 billion. In 2018, XRP temporarily surpassed Ethereum to become the world’s second-largest cryptocurrency. “I think XRP, unironically, has the ability to temporarily overtake ETH and maybe even BTC if everything goes crazy,” DonAlt, a popular crypto trader with 646,000 followers, wrote in a post on X (formerly Twitter). XRP overtook Tether (USDT) earlier this month to become the third-largest cryptocurrency. The token’s recent growth has outpaced Ethereum, Bitcoin, and Solana, with XRP up 433% since November compared to Ethereum’s 27% gain in the same period. This potential “flippening” echoes previous hopes from Ethereum enthusiasts that ETH could one day surpass Bitcoin’s market cap, a milestone that remains elusive. XRP last surpassed Ethereum in January 2018, during the previous bull market. Several factors have fueled the recent price surge of XRP: SEC Leadership Change: The expected resignation of Securities and Exchange Commission (SEC) Chairman Gary Gensler has sparked optimism about a resolution in the regulator’s ongoing legal battle with Ripple. Market watchers believe that a rejection of the SEC’s appeal or a settlement under new leadership could significantly improve XRP’s outlook. Ripple’s Business Expansion: Ripple has stepped up its hiring efforts in the US, with CEO Brad Garlinghouse noting an increase in local business activity. Garlinghouse attributed this momentum to a potential shift toward more crypto-friendly policies under President-elect Donald Trump’s administration. Bullish Market Sentiment: XRP’s performance has caught the attention of both…

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Filed under: News - @ January 16, 2025 4:22 am