Will History Repeat Itself? With the bullish momentum behind it, XRP can potentially dethrone Ethereum as the second largest cryptocurrency.

XRP, showing a 22% increase this week, has led to speculation among leading traders and influencers that it could soon surpass Ethereum (ETH) in market value.

For XRP to surpass Ethereum's current market value of 397 billion dollars, it needs to reach 6.75 dollars per token (a 134% increase from the current value of 2.94 dollars). XRP's current market value is approximately 164 billion dollars, leaving a gap of 233 billion dollars.

In 2018, XRP temporarily surpassed Ethereum to become the world's second largest cryptocurrency.

DonAlt, a popular crypto trader with 646,000 followers on X (formerly known as Twitter), said, "Ironically, I think XRP has the ability to temporarily surpass ETH, and if everything goes crazy, maybe even BTC."

XRP became the third largest cryptocurrency, surpassing Tether (USDT) earlier this month. The token's recent growth has outpaced Ethereum, Bitcoin, and Solana, with XRP rising 433% since November compared to Ethereum's 27% increase during the same period.

This potential 'flippening' reflects the previous hopes of Ethereum enthusiasts that ETH could one day surpass Bitcoin's market value, which is still a difficult milestone to achieve. XRP last surpassed Ethereum in January 2018 during the previous bull market.

Various factors fueled the recent price increase of XRP:

• SEC Leadership Change: The expected resignation of Securities and Exchange Commission (SEC) Chairman Gary Gensler has led to optimism about a resolution in the regulator's ongoing legal battle with Ripple. Market observers believe that a dismissal of the SEC's appeal or a settlement under new leadership could significantly improve XRP's outlook.
• Ripple's Commercial Expansion: Ripple has accelerated its hiring efforts in the US, and CEO Brad Garlinghouse noted an increase in local business activities. Garlinghouse attributed this momentum to a potential shift towards more crypto-friendly policies under President-elect Donald Trump's administration.
• Bull Market Sensitivity: XRP's performance has caught the attention of both individual and institutional investors. However, JPMorgan analysts warned in a recent note that demand for the XRP exchange-traded fund (ETF) may not be as strong as expected, and projected inflows of approximately $8 billion, well below the capital attracted by Bitcoin and Ethereum ETFs.