WOO X Research: XRP's Surge Propels It to Third-Largest Market Cap—What Other Established Coins Are Worth Watching?
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WOO X Research: XRP's Surge Propels It to Third-Largest Market Cap—What Other Established Coins Are Worth Watching?
XRP surges nearly 30% in a single day, the biggest surprise in cost cycle.
Navigating Web3 tides with focused insightsXRP surged 3.5x within a month. While price increases aren't unusual, what's remarkable is that even before this surge, XRP already ranked fifth by market capitalization. No one expected XRP to easily surpass both Solana and USDT, rising to become the third-largest cryptocurrency by market cap.
However, XRP’s rally wasn’t entirely unexpected. As early as November 12, WOO X Research noted that SOL and XRP were potential beneficiaries due to regulatory shifts.
Beyond regulatory relief, Ripple has also released several bullish signals:
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Multiple institutions applying for XRP ETFs: An XRP ETF was submitted on October 2, and it has now been officially filed with state authorities. Ripple CEO Brad Garlinghouse later stated that an XRP ETF is “inevitable.”
Following Bitwise, Canary and 21Shares have also submitted applications for spot XRP ETFs.
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Stablecoin launch: In mid-November, Ripple announced the launch of its U.S. dollar-backed stablecoin, Ripple USD (RLUSD), designed specifically for enterprise payments to enhance Ripple’s cross-border payment solutions. The New York Department of Financial Services has indicated approval for RLUSD issuance, with the product scheduled to launch on December 4.
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Korean momentum: As XRP rose, Korean VC Hashed Founder @0xryankim noted that Ripple sold XRP to Korean retail investors in 2014 using what resembled a pyramid scheme, creating widespread ownership and a strong grassroots XRP community in Korea.
This is evident on Upbit, where XRP’s KRW trading volume currently exceeds Bitcoin’s by over 10x.
XRP’s sharp rise has reignited market interest in other high-market-cap legacy coins, raising hopes that they might replicate similar price performance.
XLM
XLM shares deep ties with XRP. It was founded in 2014 by Jed McCaleb and Joyce Kim. Jed McCaleb was also involved in the creation of Ripple (XRP) and the Mt. Gox exchange.
XLM is primarily used for payments, aiming to provide fast, low-cost global payment solutions—especially for underserved and unbanked regions.
While both Stellar and Ripple focus on payments, their target markets differ:
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Ripple focuses on large financial institutions and banks for cross-border settlements.
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Stellar targets individuals and small-to-medium enterprises, emphasizing financial inclusion.
Given XLM’s close relationship with XRP, their price movements often correlate. XLM can be viewed as a beta proxy to XRP.
A major recent catalyst for XLM’s price increase came on November 14, when asset management giant Franklin Templeton announced a $1.7 trillion investment in XLM.
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Market cap rank: 15
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Current market cap: $16.355 billion
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Current price: $0.544
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7-day gain: +18%
ADA
Cardano was launched in 2017 by Charles Hoskinson, one of Ethereum’s eight co-founders, after he left Ethereum. Initial funding came largely from Japan, leading some to say ADA has a strong Japanese user base.
At launch, PoS was a novel concept, and Cardano’s 250 TPS made it one of the fastest blockchains in 2017. However, over time, Cardano’s development pace has faced consistent criticism. Compared to other blockchains, its upgrades and ecosystem growth have been relatively slow, causing most developers to avoid deploying projects on Cardano, resulting in a thinner ecosystem.
This has limited the maturity of DeFi and other blockchain applications within the Cardano ecosystem, reducing its ability to attract users compared to platforms like Ethereum.
However, ADA’s recent surge may be attributed to the Trump effect: first, easing concerns about the SEC classifying ADA as a security; second, and more importantly, speculation that founder Charles Hoskinson could become Trump’s cryptocurrency advisor.
While still speculative, Hoskinson’s policy office is set to open in January 2025, focusing on supporting legislative efforts—signaling a move toward compliance and crypto-friendly policies, which positively impacts ADA.
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Market cap rank: 8
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Current market cap: $46.294 billion
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Current price: $1.27
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7-day gain: +34%
HBAR
Founded in 2018 by Dr. Leemon Baird and Mance Harmon, Hedera’s mainnet launched in 2019, making it a legacy blockchain that initially emphasized low energy consumption and environmental sustainability. Hedera has already attracted numerous prominent Web2 partners such as Google, IBM, Boeing, LG, and Tata. Recently, it announced entry into the RWA market, launching an open-source toolkit for configuring, issuing, and managing tokenized bonds and stocks on the Hedera network.
In RWA applications, Hedera launched DOVU, a carbon credit trading platform that tokenizes carbon credits into crypto assets accessible to enterprises, governments, and individuals.
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Market cap rank: 19
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Current market cap: $13.375 billion
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Current price: $0.35
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7-day gain: +160%
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