XRP Surges 10% to $2.6, Overtakes Tether to Reclaim Third-Largest Cryptocurrency Spot

XRP has experienced a significant surge in price, with its value rising by 10% over the past 24 hours to hit approximately $2.60. This movement has propelled XRP’s market capitalization to an impressive $151 billion, allowing it to reclaim the position of the third-largest cryptocurrency by market cap, overtaking Tether (USDT), which recently reached market capitalization near $150 billion.

This upward price momentum for XRP can be attributed to various factors, notably ongoing discussions surrounding U.S.-China trade relations, which have contributed to a market euphoria not seen since early March. XRP now ranks behind only Bitcoin and Ethereum in the cryptocurrency hierarchy, according to data provided by Santiment.

Current statistics from CoinMarketCap reveal that XRP’s growing valuation signifies a revival in investor enthusiasm and increased adoption within the broader crypto landscape. While Tether’s stablecoin nature inherently limits its price volatility, XRP’s fluctuations often lead to substantial trading opportunities, creating an environment ripe for speculation and investment.

$2.69 stands as a critical resistance level for XRP traders, closely monitored as a potential breakout point. This threshold corresponds to the 0.236 Fibonacci retracement level from XRP’s all-time high of $3.84 set in January 2018. Analysts agree that a decisive breakthrough above this resistance could pave the way for further upward movement, targeting the $3.00 mark.

A variety of catalysts appear to have contributed to XRP’s recent price rally. Positive legislative developments, such as Missouri’s House Bill 594 aimed at enabling complete income tax deductions on capital gains—including Bitcoin and XRP profits—have sparked optimism among investors.

Moreover, according to Santiment, the number of XRP holders has surged 11% since the start of 2025, marking a peak not witnessed in over a decade and indicative of growing retail interest. Notably, XRP was recently introduced as a payment option on Travala.com, a cryptocurrency-friendly travel booking platform, underscoring its expanding utility and adoption.

These developments significantly bolster the case for XRP in long-term demand, with market analysts noting an ongoing price increase despite relatively low trading momentum. This observation suggests that investor interest is rooted in sustainable growth rather than fleeting speculation.

In another crucial aspect influencing XRP’s standing, Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC) remains a significant focal point. Recently, both Ripple and the SEC submitted a joint motion to settle the lengthy legal dispute for $50 million—pending court approval. If sanctioned, this proposed deal could allow Ripple to regain approximately $125 million currently held in escrow while maintaining the court’s previous ruling regarding XRP’s sales.

This potential resolution may alleviate uncertainties surrounding XRP, thus enhancing investor confidence. Additionally, Ripple is strategizing to elevate its footprint in institutional finance through acquisitions and partnerships, aiming to establish XRP and its ecosystem as a leading solution for cross-border payments.

As Ripple endeavors to expand its market presence, some analysts speculate that XRP could pose an emerging threat to Ethereum, especially if its institutional adoption accelerates alongside favorable legislative environments.

Analyzing current market sentiment and technical indicators, CasiTrades highlights that XRP is approaching the crucial $2.69 resistance while bulls endeavor to sustain critical support levels. Maintaining above this threshold could signal a pathway towards the $3 target or indicate a pause in upward momentum.

Recent observations from the trading community reveal that XRP has accelerated past the $2.64 level swiftly, nearing the vital $2.69 resistance. CasiTrades notes that a sustained break and hold above this level could provide substantial bullish momentum for the coin’s price.

In addition, market veteran analyst Dark Defender indicated that XRP’s current price movements align with their anticipated predictions, as they previously forecasted a rally from around $2.45 to $2.58 and beyond.

Furthermore, trading metrics from Coinglass illustrate a marked increase in market activity, with derivative volumes surging by 172% to reach approximately $18.95 billion, while open interest climbed by 15.37%. Such rising trends indicate robust engagement among investors keen on future price movements within the XRP market, highlighting an engaged trading landscape bolstered by optimistic sentiment.

As XRP consolidates its position in the cryptocurrency arena, stakeholders will eagerly monitor these dynamics, which could significantly influence both immediate and long-term investment decisions. The path forward remains fascinating, offering speculative potential as XRP seeks to solidify its status alongside leading cryptocurrencies.