A 360% surge in one month, with a market cap surpassing USDT! XRP jumps to the world's third largest cryptocurrency.

Ripple coin (XRP) has recently surged, surpassing the market capitalization of stablecoin leader Tether (USDT) and Solana (SOL), and has risen to become the 'world's third-largest cryptocurrency' after only Bitcoin (BTC) and Ether (ETH), sparking high market attention.

According to CoinGecko market data, XRP has performed impressively in the past month, with a cumulative increase of up to 360%. This morning (2), it surged by another 30% to $2.48, still about 30% below the historical high of $3.4 set 7 years ago.

XRPcoin currently has a Market Cap of 134.8 billion US dollars, surpassing the 134.3 billion US dollar Market Cap of USDT and the 111.7 billion US dollar Market Cap of Solana (SOL).

At the same time, BTC rose slightly by 1.7% today, currently priced at $97,627; Ethercoin also rose by 1.2% to $3,718; while SOL basically remained stable at $235.

Favourable Information in policies and the turning point of the lawsuit ignite the rise of XRP

The bullish trend of XRPcoin is not only supported by technical fundamentals, but also driven by the dual factors of policy support and the easing of legal disputes. Peter Chung, Director of Presto Research, analyzed that the market is generally optimistic that Ripple's proposed Stable Coin RLUSD will be approved by the New York Department of Financial Services (NYDFS), thus becoming an important catalyst for the recent price surge of XRPcoin.

Last week, Fox News reported that Ripple hopes to officially issue RLUSD on December 4th, but Ripple has not responded to this matter.

Another key boost to market confidence comes from the announcement that Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), will step down in January next year. The legal battle between Ripple and the SEC has been going on for nearly 4 years, becoming a significant resistance to the company's business development. After Gary Gensler steps down, the new leader may be more inclined to reach a settlement with Ripple or withdraw the appeal. Peter Chung said:

Gary Gensler's departure is undoubtedly great news for Ripple. The new SEC chairman may choose to end this long-standing lawsuit, allowing Ripple to focus more on driving business growth without any worries.

Future Outlook: Ecological Development, ETF Application

Looking ahead, the development of Ripple's ecosystem and XRPcoinSpot ETF is also highly anticipated. With BTC and EthercoinSpot ETFs being approved for listing in the US, it is widely expected that XRPcoinSpot ETF will also be launched. And applications for ETFs of cryptocurrencies like Solana and even DOGE (DOGE) are also in line, which will undoubtedly further drive the market enthusiasm for XRPcoin.

Peter Chung further pointed out that if Ripple can expand the application ecosystem of the XRP Ledger through RLUSD and attract more users and developers to participate, there is still room for the value of XRP to rise.

The key is whether Ripple can make good use of this opportunity to transform the enthusiasm of the community into practical ecological value. This is not only the continuation of short-term market trends, but also the potential cornerstone for the long-term development of the next stage.

However, he also reminded that although Ripple is currently popular, whether the market momentum can be sustained remains to be seen. If Ripple can overcome legal disputes and focus on technological innovation and application expansion in the future, this surge may just be the beginning of a new chapter.

<One month surge of 360%, Market Cap surpassing USDT! XRP ranks as the "3rd largest Cryptocurrency" globally> This article was first published in "BlockTempo".