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XRP Overtakes Solana to Rank Fourth Amid Legal Victory


Crypto

Securities

XRP rises to fourth in market cap, surpassing Solana, fueled by legal wins and optimism

XRP has ascended to become the fourth most valuable cryptocurrency by market capitalization, surpassing Solana (SOL), at over $122 billion versus SOL at $113 billion. The rally comes after a very powerful increase in XRP price appreciation throughout November, thanks to fundamental developments in its legal and regulatory environment.

The token had held the third position in the cryptocurrency rankings before December 2020, when the U.S. Securities and Exchange Commission (SEC) filed a lawsuit alleging that XRP was an unregistered security. The action resulted in mass investor hesitation, significant exchange delistings, and drastic drops in XRP's value. Some of the platforms that halted the trading of XRP pushed it to seventh place for a long time in terms of market capitalization.

But one critical legal victory in July 2023 somewhat relieved the regulatory uncertainty of XRP when it ruled that, in some cases, XRP is not a security. It thus sent the price of XRP surging by so raising its market cap.

The political scenario has further fueled investor sentiment. Positive market expectations for XRP are furthered by speculation regarding Donald Trump's re-election. Many expect a more favorable regulatory environment for cryptocurrencies under his administration. Hopes are now high that a new SEC leadership could ease the regulatory pressure on digital assets, including XRP, when SEC Chair Gary Gensler is set to resign in January 2025, following Trump's potential win in 2024.

Ripple CEO Brad Garlinghouse has also welcomed Trump's nomination of Scott Bessent as Treasury Secretary, terming him "the most pro-innovation, pro-crypto Treasury Secretary" so far. The changes in regulation, together with the possibility of the SEC reeling back on its lawsuit against Ripple, have restored investor confidence. Solana (SOL), however, has dipped slightly to $236.21.


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