XRP sees 354% gains in 3 months despite 4.9% dip

XRP (CRYPTO:XRP), the native crypto of the XRP Ledger, saw a 4.9% drop on December 3, 2024, bringing its price to $2.54 per coin.

Despite this dip, XRP has delivered an impressive 354.62% gain over the past three months and an 81% surge in the past week.

Launched in 2012 by Chris Larsen and Jed McCaleb, XRP initially worked with the Ripple payment network and later transitioned to the XRP Ledger.

XRP is one of the oldest cryptocurrencies and continues to hold a key position in the market, ranking third in trading volume behind Tether (CRYPTO:USDT) and Bitcoin (CRYPTO:BTC).

The XRP Ledger is unique in its consensus mechanism, relying on independent validators rather than the traditional proof-of-work (PoW) or proof-of-stake (PoS) models.

This week, XRP has gained attention due to several factors: optimism around potential legal outcomes tied to the Trump administration, increased institutional interest, and a broader bullish market trend.

At the time of the report, XRP’s market cap stood at $145 billion, with a fully diluted valuation of $255.62 billion.

XRP saw $45.61 billion in global trading volume in the past 24 hours, with South Korea’s Upbit exchange contributing $26.73 billion.

XRP was the most-traded asset on Upbit during that period, making up $7.61 billion of its volume.

Globally, the South Korean won ranks as XRP’s second-most traded pair after USDT.

Despite its recent rise, XRP remains 25% below its all-time high of $3.40, reached in January 2018.

At the time of reporting, the XRP price was $2.62.