Bitcoin's
While this part of history was unfolding, Ripple’s XRP
XRP's rally was marked by remarkable price movements, legal progress, and increasing adoption, showing it is not just Bitcoin stealing the show.
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Even though Bitcoin's market dominance remains above 52%, the $100,000 milestone reached on December 5 has brought renewed attention to crypto, so altcoins like XRP got recognized alongside it.
Technological advancements like the Lightning Network, easier retail access through platforms like PayPal, and Bitcoin’s reputation as "digital gold" have also attracted mainstream attention to the industry.
What Bitcoin’s $100K Milestone Means for XRP
Historically, Bitcoin's rallies have been followed by an “altseason”, where altcoins see significant price increases as investors diversify their portfolios.
For XRP, Bitcoin’s achievement highlights the resilience of cryptocurrencies that have overcome challenges like regulation and scalability.
One Reddit user shared their perspective, comparing Bitcoin's performance with XRP's potential:
I seriously don't understand why so many people feel like Bitcoin is the holy grail - it was at $50K ages ago and managed to double itself from $50K to $100K <...>. On the other hand, XRP hasn't fulfilled itself since 2018. That's massive. <...> The potential is with XRP, not with Bitcoin now. Going from $0.30 to $2.80 is a serious deal.
While Bitcoin leads the market, XRP’s unique use cases in cross-border payments and its progress toward legal clarity position it as a strong candidate for further growth.
XRP's Rally and Growing Momentum
XRP has seen a strong rally recently, briefly touching $2.77 on December 3 before correcting to $2.41 on December 7.
This recent surge has helped XRP reclaim its position as the third-largest cryptocurrency by market capitalization, overtaking Tether's USDT
A surge in trading activity, particularly on South Korean exchanges like Upbit
Regulatory Developments Fuel Optimism
Just like for Bitcoin, one of the most influential drivers of XRP’s recent success is optimism around the re-election of Donald Trump as US President.
Trump became openly pro-crypto during his presidential campaign, which renewed hopes for a clearer regulatory environment. Those hopes grew even stronger when he started acting on his support—especially when he appointed Paul Atkins, a known crypto advocate, as the new Chair of the US Securities and Exchange Commission (SEC).
That is important for Ripple, as it has been battling the SEC in court since 2020 over claims that secondary market sales are considered securities. A crypto-friendly Chair could push for a resolution that benefits Ripple Labs, which could boost investor confidence in XRP, too.
Besides, WisdomTree, an asset management firm, filed with the SEC to launch the WisdomTree XRP Fund, which is more likely to get approved with a pro-crypto Chair in charge. If approved, the ETF would offer a regulated way for investors to invest in XRP, further increasing its adoption.
Technological Innovation Drives XRP’s Utility
Beyond legal developments, Ripple is advancing XRP’s utility with key innovations. Recent XRP Ledger (XRPL) updates, such as reducing reserve fees from 10 XRP to 1 XRP, have lowered barriers for new users.
Additionally, Ripple is planning to launch RLUSD, a regulated, dollar-pegged stablecoin, which could enhance liquidity and attract institutional investors.
Looking Ahead: XRP’s Potential in 2024 and Beyond
Analysts are optimistic about XRP’s future price. Projections for 2024 suggest XRP could reach $2.67, with an average price of $2.32.
By 2025, forecasts range from $3.25 to $7, driven by increased institutional adoption and potential ETF approvals.
One Reddit user also discussed XRP's potential price in a post, saying:
A price range of $3–$4 seems much more achievable, considering the past performance of XRP and its ongoing developments. At these price levels, the market cap would be between $170 billion and $230 billion.
Ripple’s ability to innovate and resolve legal challenges should be key to XRP’s growth. The introduction of RLUSD and the potential for an XRP-focused ETF could also transform the token’s utility and market appeal.
The Bottom Line
Bitcoin’s $100,000 milestone marks a turning point for the cryptocurrency market, but XRP’s recent rally highlights the growing importance of altcoins.
With XRP's innovative use cases, growing adoption, and regulatory developments, it is carving out its own narrative alongside Bitcoin's success.
