Ripple Surpasses Solana as XRP Price Hits 6-Year High Above $2

The impressive performance of Ripple’s native token continues with another surge in the past 24 hours that pushed its price above $2 for the first time since early 2018.

In the process, XRP has overtaken SOL to become the fourth largest cryptocurrency by market capitalization.

The entire crypto market started posting impressive gains after Donald Trump won the 2024 US presidential election almost a month ago. At first, however, XRP was a bit slow and lagged behind, losing ground to other assets like DOGE.

However, once rumors began to circulate that SEC Chairman Gary Gensler will step down once Trump takes office, Ripple’s token began its mind-blowing rally.

It was only solidified last week when Gensler officially announced that he will step down as chairman of the US regulator that has been in a legal battle against Ripple for roughly four years.

XRP broke above $1 and continued to rise. It stopped at $1.65 last week, but the bulls came back and increased its price by 50% on a weekly basis. As such, the token soared to $2.09 today for the first time since January 2018.

XRPUSD. Source: TradingView

In addition, the asset is by far the best performer among the top 10 alternatives in the past month, having risen 300%. As a result, it managed to outperform several altcoins in the process, such as Binance Coin and Solana as of a few minutes ago.

With a market capitalization of $116 billion at the time of writing, XRP is the fourth largest cryptocurrency. Next in line is Tether with $134 billion, according to CoinGecko.

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