Ripples XRP Flips USDT to Become Third Largest Crypto Asset: Whats Next for XRP?
XRP has recorded gains in the past 24 hours to flip USDT as the third largest asset by market cap. The asset has attained this feat for the second time in 30 days after it topped USDT temporarily in December 2024. XRPs gains trickle in as spot ETF momentum soars in the United States, coupled with anticipated positive crypto laws.
For Tether, the company remains at the center of regulatory headwinds in Europe following the launch of the landmark Markets in Crypto Asset (MiCA) Regulation. Like XRP, other altcoins have also made massive gains today as Bitcoin dominance falls.
XRPs Market Cap Taps $140 Billion
On Jan 3, XRPs price tapped $2.4, soaring 2.7% alongside a wider market rally. The recent price jump takes its market capitalization above $140 billion, outpacing USDT stablecoin. XRP trading volume is over $5 billion, raising community traction and following a sentiment swing.
XRP has gained momentum on the back of a second Trump Presidency. After the November polls, XRP recorded huge inflows, leading to a similar position before a pullback. Major points include anticipated positive regulations in the U.S. market and possible spot XRP ETF approval.
A shift in regulatory stance remains a bullish catalyst for the crypto markets. In the last four years, XRP has faced the Securities and Exchange Commissions (SEC) hammer after it filed a lawsuit against the firm for allegedly offering unregistered securities. This tanked the assets price below $1, trading around the margin for several years.
In 2024, XRP jumped over 280%, with gains from institutional investment and Ripples global partnerships.
Spot ETFs To Determine The Assets Next Chapter
The chances of a spot XRP ETF in the United States are more likely in a Trump administration. Last year, several firms filed applications with the market anticipating price jumps to new all-time highs like Bitcoins performance. After the approval of spot Bitcoin ETFs, the asset dominated financial markets due to huge institutional investments.
XRP bulls have accumulated tokens ahead of potential upward price movements that are raising buying pressure. Crypto enthusiasts, xrpmessenger wrote on the improved chances of a spot ETF.
Moreover, theres a growing chance of a spot ETF launch for XRP next year. Four different investment firms have already filed spot XRP ETF applications with the SEC. In the past, with all the regulatory uncertainty swirling around Ripple, there would have been absolutely no way the SEC would have approved these ETF applications. But in a Trump administration, the SEC might be much more willing to consider these applications.
Read more: https://zycrypto.com/ripples-xrp-flips-usdt-to-become-third-largest-crypto-asset-whats-next-for-xrp/
Text source: ZyCrypto
