XRP Surges to Third-Largest Market Cap as Wallet Growth Soars
By: cryptofrontnews|2025/05/12 21:00:17
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XRP jumped past $2.61 and overtook Tether in market cap as bullish policies and rising wallets sparked renewed investor confidence.With over 638,000 new wallets in 2025, XRP hit 6.46 million holders, showing strong network activity despite market consolidation.Real-world adoption on platforms like Travala and favorable U.S. tax proposals fueled XRP’s surge and solidified long-term user growth.According to Santiment, XRP has now formally surpassed Tether to become the third-largest cryptocurrency by market cap. Its price broke above $2.61 for the first time since March 6, 2025. This price jump follows a series of bullish catalysts that set XRP apart from the rest of cryptocurrency. Most notably, House Bill 594 in Missouri is making headlines. This bill proposes a comprehensive income tax deduction on capital gains from cryptos such as Bitcoin and XRP. This has generated increased investor appetite, especially in XRP.Additionally, XRP saw user growth in 2025. Through January, non-empty wallets rose by over 638,000. This brought the rise of 11% to wallet numbers totaling 6.46 million as of early May. The consistent climb in wallet quantities indicates strong network activity and surging demand. This is the XRP Ledger's all-time high, the start of the 12th year it will be operating.Price Surge and Wallet CorrelationBetween May and October 2024, XRP’s price remained stable. Price action stayed within a tight range, with low volatility. However, wallet growth during this period showed a slow but steady upward trend. This pointed to gradual accumulation by retail and institutional holders.Source: SantimentA dramatic shift occurred in mid-November 2024. XRP broke out from under $0.60 and shot above $2.60 in a few weeks. This rapid price surge aligned closely with accelerated wallet creation. Consequently, the market saw a strong inflow of new participants.By early January 2025, XRP hit a local high and entered a volatile consolidation phase. The price ranged between $1.90 and $3.40. However, wallet growth continued unabated. This divergence suggested persistent interest and growing adoption despite price swings.Ecosystem Momentum Remains StrongAdditionally, XRP adoption has expanded beyond investment use. Travala.com recently enabled XRP payments, adding real-world utility. This integration supports the growing role of XRP in global commerce. Furthermore, XRP’s user growth in early 2025 reflects broader investor confidence. Over 500,000 wallets were added in just four months. This pace highlights strong engagement with the network.The post XRP Surges to Third-Largest Market Cap as Wallet Growth Soars appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
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