Ripple's XRP token underwent a dramatic price surge over the holiday period, climbing to $2.50 before skyrocketing further to $2.87 on Monday. The rally underscores renewed investor interest in XRP, making it one of the fastest-growing cryptocurrencies during the 2024 season,

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.

The currency leapfrogged Solana’s SOL and is now fourth behind only Tether’s USDT, Ether token and of course Bitcoin. Forbes reported that Ripple’s market cap has risen from around $30 billion to $131 billion by Monday. But why is XRP going up, and why is the price prediction continuing to rise?

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.