XRP Surges Ahead: A Potential Rival to Ethereum’s Market Dominance

XRP has shown significant price growth over the last six months, outpacing Ethereum and prompting discussions of its potential to challenge Ethereum’s dominance. Recent gains have been driven by the resolution of legal issues with the SEC, speculation about upcoming XRP ETFs, and factors contributing to investor confidence and demand.

XRP, once perceived as a laggard in the cryptocurrency market, is currently gaining traction due to significant price growth. Over the past six months, Ripple’s native token has consistently surpassed Ethereum in terms of price appreciation, leading to renewed discussions regarding its potential to rival Ethereum’s market capitalisation dominance.

This resurgence follows years of volatility spurred by legal issues, particularly a lawsuit with the U.S. Securities and Exchange Commission (SEC). XRP saw its price plummet from over $3 to $0.10 but has since regained momentum as regulatory challenges appear to lessen.

A notable inflection point occurred in late 2024, when XRP recorded a remarkable 160% increase in a single month. This upswing continued with substantial monthly gains—18% in December, 45% in January, and a steady growth in the spring, culminating in a 14% rise in April, solidifying XRP as one of the leading assets during this period.

The resolution of Ripple’s extensive legal battle has been pivotal, as the SEC dropped its multi-year case against the firm, restoring investor confidence and boosting demand for XRP. This victory has alleviated much legal uncertainty surrounding the token.