XRP Overtakes Ethereum in Market Cap: A Landshift in Crypto Dominance

In a historic market reversal, XRP has surpassed Ethereum in market capitalization as of April 2025, marking the first time since 2018 that the digital asset has reclaimed its position as the second-largest cryptocurrency by valuation. This seismic shift comes amid heightened institutional adoption of Ripple’s payment-focused blockchain technology and renewed regulatory clarity surrounding XRP’s status. Analysts attribute the rally to growing enterprise use cases in cross-border settlements and the resolution of longstanding SEC litigation, which had previously suppressed investor confidence. The flip occurs as Ethereum faces scaling challenges ahead of its full transition to proof-of-stake, with network congestion and high gas fees driving some decentralized finance projects to explore alternative chains. Market data shows XRP’s 24-hour trading volume spiking 217% during the ascent, while derivatives markets indicate strong institutional accumulation through regulated futures products. This development signals a potential reordering of the crypto hierarchy as layer-1 protocols compete for real-world utility beyond speculative trading.

In Brief

• XRP briefly surpasses Ethereum in market cap, an unprecedented event since 2018 that challenges the established order.
• XRP reaches a market capitalization of $272.6 billion, with a 460 % increase in a few months.
• Institutional adoption reinforced by the integration of the XRP Ledger by major banks such as Société Générale.
• Regulatory clarity and ETF prospects are factors massively attracting professional investors.

XRP Surpasses Ethereum : The Numbers Speak

On March 3, XRP reached a market capitalization of $272.6 billion. As such, this capitalization slightly exceeded that of Ethereum, valued at $271.6 billion. It was the first time in six years that XRP settled, even momentarily, in second place in the global crypto rankings. Indeed, this had not happened since 2018, underscoring the rarity and significance of this historic feat.

This breakthrough is based on a remarkable bullish momentum observed in recent months. Several key indicators confirm the scale of the phenomenon :

• Market capitalization : XRP briefly surpassed Ethereum with $272.6 billion versus $271.6 billion ;
• Fully diluted valuation (FDV) : $240 billion for XRP, compared to $231.5 billion for Ethereum ;
• Price performance : +460 % since the 2024 U.S. presidential election ;
• Investor interest volume : driven by the reassessment of its utility and favorable signals issued by the regulatory market.

These data reflect a notable redirection of investment flows and a return to favor of an often underestimated asset, thanks to a favorable environment and renewed attention from institutional players.

Adoption and Regulation : The Structural Drivers of the Rebound

Beyond the punctual figures, several structural signals explain this unexpected repositioning of XRP. Leading financial institutions such as Société Générale have adopted the XRP Ledger technology.

This institutional adoption demonstrates an increasing integration of this blockchain into the traditional financial world. Moreover, it has been seen as technological validation and a sign of robustness, thereby strengthening the asset’s appeal in the eyes of professional investors.

Another major catalyst lies in the regulatory climate. XRP benefits from a clearer framework in the United States, in contrast to Ethereum, whose legal status is still under debate.

Such growing demand for XRP ETFs, notably from players like Grayscale and Franklin Templeton, reflects renewed institutional interest supported by improved legal clarity.

This context offers XRP a long-term competitive advantage, especially in a market environment where regulatory compliance is becoming a priority investment criterion.

In the medium term, this dynamic could sustainably reposition XRP in the landscape of dominant cryptocurrencies. While market capitalization remains volatile by nature, fundamental signals point toward a deeper transformation. The rise of XRP, supported by institutions and regulators, suggests a future in which the crypto hierarchy could be redefined based on a dual requirement: concrete utility and legal security. Therefore, the scenario of consolidation of this progress cannot be ruled out.

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