XRP, the cryptocurrency tied to Ripple, has returned as the third-largest cryptocurrency by market capitalization. This marks a major turnaround following a prolonged legal battle with the SEC that began in 2020. The coin’s resurgence comes after Ripple secured key legal victories in 2024. XRP has also gained momentum following a market rally sparked by Donald Trump’s win in the U.S. presidential election.

XRP’s Struggle After the SEC Lawsuit

In December 2020, the SEC sued Ripple, alleging the company conducted an unregistered securities offering. This lawsuit caused XRP’s price to plummet from $0.50 to $0.17, erasing over $15 billion in market value. Despite the setback, XRP maintained a spot in the top 10 cryptocurrencies, holding its ground as the seventh-largest coin by market cap for nearly four years.

As of December 2024, XRP has surpassed Binance Coin (BNB), Solana (SOL), and stablecoins like Tether (USDT) to become the third-largest cryptocurrency. It now trails only Bitcoin (BTC) and Ethereum (ETH). “This is how it looked before December 2020,” said pro-XRP lawyer John Deaton, reflecting on the cryptocurrency’s comeback.

XRP’s Popularity Surges Online

XRP has gained massive online traction. Google Trends data reveals that “XRP” searches have exceeded searches for “crypto” multiple times in November. At one point, XRP even surpassed Ethereum in search interest, though Bitcoin remains the most searched cryptocurrency.

XRP still has a long way to go before overtaking Ethereum. XRP would need to trade at $7.75 to match Ethereum’s current market value, according to crypto analyst Christopher Jaszczynski. Currently, XRP is trading at $2.35, showing a 24% increase in the past 24 hours and an annual gain of approximately 280%.

Conclusion: A Bright Future for XRP?

XRP’s comeback demonstrates its resilience and the unwavering support of its community. With the SEC lawsuit nearing resolution, the cryptocurrency’s future appears promising. Whether XRP can continue climbing the ranks remains a key question as it competes with Ethereum and Bitcoin for dominance.