The surge in the value of the XRP token comes amid speculation that the SEC may drop its legal case against Ripple Labs, the company that developed the XRP platform.

Bitcoin is not the only cryptocurrency that has made gains. Dogecoin and XRP have done just that, outperforming Bitcoin.

XRP, the world’s third-largest cryptocurrency by market capitalization, hit a record high at $2.90 on Tuesday before pulling back — with its rally fueled by optimism around a more friendly regulatory environment under the upcoming Trump administration.

XRP, a token linked to Ripple Labs Inc., has vaulted rivals to become the third-largest cryptocurrency in a $100 billion rally. The token rose as much as 32% on Monday to $2.87. In the process its market capitalization topped $154.

XRP’s market capitalization has now surpassed $154 billion, despite languishing below $30 billion before Donald Trump’s re-election. Overall, the broader crypto market has now

Ripple Labs' XRP Token has come up trumps post-election to become one of the world’s biggest cryptocurrencies. The currency leapfrogged Solana’s SOL and is now fourth behind only Tether’s USDT, Ether token and of course Bitcoin.