XRP Regains Its Position as the 3rd Largest Cryptocurrency After Years

Ripple's cryptocurrency XRP has shown significant growth over the past week, nearing a market capitalization of $140 billion. XRP made another leap of nearly 30% since yesterday, surpassing the stablecoin Tether (USDT) and Solana (SOL) to rise to the position of the third-largest cryptocurrency.

XRP's trading volume also increased by 75% in a day, reaching $26.41 billion. Last week, XRP surpassed Binance's BNB by reaching a market value of $97 billion. This price movement has propelled XRP towards the record level of $3.80 it achieved seven years ago, fueled by Ripple's business expansion and market optimism.

What is the status of Ripple's fight with the SEC?
Ripple faced a lawsuit from the SEC in December 2020, which sought to classify XRP as a security. Ripple firmly opposed these allegations, spending $150 million to build a strong defense.

Christian Larsen, Ripple's co-founder, and CEO Brad Garlinghouse did not back down despite the SEC's pressure. Together with the support of 75,000 XRP holders in this legal process, Ripple has shown the strength of its community by achieving victory.

Ripple's stable asset RLUSD, another trigger for XRP
The stable cryptocurrency RLUSD developed by Ripple has become a major point of interest for the XRP community. According to FOX Business, New York regulators may be close to approving the use of RLUSD, which could enhance the adoption of XRP. Ripple's partnership with blockchain payment provider MoonPay is expected to facilitate user access to RLUSD, further increasing XRP's utility and market appeal.

Developments regarding this new stable cryptocurrency may further heighten interest in XRP, contributing to the cryptocurrency's market performance. Ripple's innovative steps and expanded collaborative networks continue to present new opportunities in the crypto market.