XRP Surges 100% Year-to-Date, Eyes Ethereum's Market Cap

XRP has emerged as the top performer among major cryptocurrencies in 2025, surpassing both Bitcoin and Ethereum in year-to-date gains. This remarkable performance has sparked speculation about whether XRP could soon outrank Ethereum, the second-largest cryptocurrency by market capitalization. Several factors are contributing to XRP's surge, including a pro-crypto shift at the U.S. Securities and Exchange Commission (SEC), Ripple's global integration efforts, and growing institutional adoption.

As of April 23, 2025, XRP's price stands at approximately $2.23, with a market capitalization of around $129.7 billion. In comparison, Ethereum's price is about $1,790, and its market capitalization is around $215.85 billion. For XRP to surpass Ethereum's market cap, it would need to reach at least $3.70, assuming Ethereum's market cap remains stable.

One of the key catalysts for XRP's potential rise is the appointment of Paul Atkins as the new SEC Chairman. Atkins is known for his pro-digital asset stance and is expected to bring regulatory clarity to the crypto industry. His leadership could significantly benefit Ripple and XRP, as it would provide a more favorable regulatory environment for the cryptocurrency.

Ripple's strategic acquisitions and integrations are also playing a crucial role in XRP's growth. The company's acquisition of fintech broker Hidden Road and its deeper integration into cross-border payment networks are adding real transaction volume to the XRP Ledger. This increased usage is driving demand for XRP and contributing to its price appreciation.

Another factor that could boost XRP's market position is the potential approval of an XRP Exchange-Traded Fund (ETF). Following the momentum of Bitcoin and Ethereum ETFs, analysts believe that an XRP ETF could be next. If approved, institutional demand for XRP could surge dramatically, further propelling its price and market capitalization.

XRP's use in international settlements continues to grow, with increasing traction across various regions. This growing institutional and central bank adoption is further solidifying XRP's position as a leading cryptocurrency for cross-border payments.

Based on current growth trends and projections, XRP could realistically overtake Ethereum by the third quarter of 2025. This timeline is contingent on several key milestones, including positive sentiment from Atkins' SEC speech, the approval or filing of an XRP ETF, and Ethereum's price remaining below $2,000 while XRP climbs to $3.70 or higher.

According to analysts' forecasts, Standard Chartered predicts that XRP could hit $5.50 by the end of 2025. At this price point, XRP's market capitalization would exceed $320 billion, potentially flipping Ethereum unless Ethereum experiences a significant rally.

However, there are potential obstacles that could slow down XRP's ascent. A strong bullish run for Ethereum could raise the bar for XRP to surpass it. Additionally, escrow releases of XRP could dilute its market cap growth, and regulatory delays could pause the rally. Despite these challenges, the conditions are aligning for XRP to potentially flip Ethereum, making the flippening closer than ever.