Ripple rally: XRP beats Solana and Tether

XRP is the outlier in the crypto market and has now even overtaken Solana and Tether. Is a new record coming soon?

Right now, XRP is stealing the show. In the past 24 hours, Ripple's cryptocurrency price has risen 20% and is now above €2.20. In the past month, the value has nearly quadrupled, making the previous record of around €3.30 seem within reach.

XRP's market capitalization has risen to more than €138 billion, overtaking Solana and even Tether. XRP is now the third-largest cryptocurrency.

According to analysts, the rapid rise is driven by speculation about the upcoming launch of the RLUSD stablecoin and a possible XRP-ETF. The CFTC (Commodity Futures Trading Commission) is also said to be playing a role in this rally. However, the sharply increased open interest points to a possible correction.

Bitcoin and Ethereum remain stable

Meanwhile, Bitcoin and Ethereum remain pretty much in place. BTC and ETH have shown little price change in the past 24 hours. Solana, on the other hand, is posting a hefty loss of about 4.6%.

Altcoins show strength

Although the broader crypto market is not really moving yet, some altcoins have seen big jumps. For example, Hedera (HBAR) rose 24% in the past 24 hours, Litecoin (LTC) rose 17%, and IOTA also saw an increase of nearly 25%.

Another notable riser is HYPE, the native token of the new Layer-1 blockchain Hyperliquid. Since its launch on Nov. 29, its value has risen nearly 300%. Hyperliquid focuses primarily on user-friendly and affordable futures contract trading.

Older projects revived

What is striking is that older crypto projects such as XRP, ADA and LTC in particular are making a comeback. This success is partly due to their availability on platforms where retail investors can also trade traditional assets such as stocks and ETFs. The American trading app Robinhood in particular plays an important role in this regard.