Cross-border payment solution XRP is now the fifth-largest cryptocurrency by market capitalization after rising nearly 300% in just a month.

Data from CoinMarketCap shows that XRP’s market cap is currently around $110 billion, well above BNB’s valuation of $94.422 billion.

BNB, the native asset of the Binance ecosystem, was the fourth-largest crypto asset at the start of last month, while XRP was in seventh place. But XRP rallied rapidly from $0.491 on November 1st to $1.957 on November 30th, posting a staggering 298% gain in just 30 days.

XRP is now approaching Solana (SOL). The Layer 1 competitor of altcoin and Ethereum (ETH) is currently the fourth largest crypto asset with a value of $113.416 billion.

About six years ago, XRP was the second largest cryptocurrency by market capitalization, just behind Bitcoin (BTC). But things went south for the payments altcoin after the US Securities and Exchange Commission sued Ripple in December 2020, saying the company had been selling XRP as an unregistered security for years.

In July 2023, XRP exploded after Judge Analisa Torres ruled that Ripple’s automated sales of XRP on the open market were not securities. Judge Torres also rejected the SEC’s allegations that Ripple executives Brad Garlinghouse and Chris Larsen personally conducted an unregistered securities offering by selling XRP.

At the time of writing, XRP is trading for $1.94.

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