After Seven Long Years, Ripple’s XRP Sets $3.65 All-Time High As Market Cap Smashes Through $200 Billion ⋆ ZyCrypto

The price of XRP has been on a parabolic tear in recent days amid a broader crypto market rally.

After weeks of accumulation near the $3 level, the Ripple-promoted cryptocurrency rocketed to its highest level in seven years on Thursday, pushing its market capitalization above $200 billion.

XRP Shatters All-Time High Following Powerful Bull Run

XRP climbed over 20% on Thursday to reach a fresh lifetime high of $3.65, according to crypto data provider CoinGecko. The previous record was $3.40, registered in January 2018. At press time, the cross-border payments-focused token had retraced to $3.51. Still, XRP has gained approximately 60% in the last 30 days, emerging as the strongest token among all crypto majors.

XRP‘s latest price surge has been enough for it to surpass Tether’s USDT stablecoin to fortify its place as the third-biggest digital asset by market cap. XRP‘s total value soared to as high as $215 billion on Thursday, compared to USDT’s stablecoins $160 billion capitalization.

Ripple, the blockchain payments company closely related to XRP, notched a partial win against the U.S. Securities and Exchange Commission (SEC) around this time two years ago. The firm has since settled with the regulator and agreed to withdraw its cross-appeal in their protracted legal battle.

Ripples Bold Institutional Ambitions

Ripple has been making big moves as the case nears its end. In April, the company became the first crypto-focused firm to acquire a prime brokerage firm, Hidden Road. Ripples recent application for a U.S. banking license has also sparked renewed interest in XRP.

Ripple is also well-positioned to benefit from the U.S. Houses vote to pass the stablecoin-regulating legislation known as the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act on Thursday. The landmark bill has now been forwarded to President Donald Trump for final approval.

Ripple recently tapped US banking behemoth BNY Mellon to custody reserve assets backing its US dollar-pegged stablecoin RLUSD, which has since exceeded a $517 million market cap. The company has also filed for a Federal Reserve master account, which would allow it to hold RLUSD reserves directly with the Fed and further integrate with the U.S. financial system.