fly! The market value of XRP surpassed USDT and SOL to become the third largest token, soaring 380% in a single month.

After Trump's victory and Gary Gensler's announcement that he will step down in January 2020, many crypto projects that have been in litigation with the SEC have begun to celebrate, with the long-contested XRP (XRP) performing the most impressively. According to CMC data, the XRP price has soared from $0.51 to $2.47 in the past month, a staggering 380% increase (it has risen another 32% in the past 24 hours). With this rapid increase, its market capitalization has now reached $141.6 billion, surpassing USDT's $134.2 billion, making it the third largest cryptocurrency. Is the key to the skyrocketing price the extensive off-chain cooperation that Ripple has built? Although the departure of SEC Chairman Gary Gensler has indeed boosted the related tokens, the XRP surge has exceeded market expectations, leading the author to speculate that Ripple's extensive off-chain cooperation with countries and enterprises may have driven the continuous rise of XRP. According to sources cited by Fox Business, the New York Department of Financial Services (NYDFS) has informed Ripple that it will approve the company's new stablecoin product RLUSD, which is scheduled to be launched on December 4. If approved as expected, RLUSD will be legally allowed to be offered to the public. Ripple acquired the Swiss digital asset custodian Metaco for $250 million at the end of May 2023 and completed the acquisition of the New York digital asset custodian Standard Custody & Trust Company in June this year. According to Ripple's announcement, these two acquisitions highlight the importance and increasing prevalence of digital assets, covering everything from stablecoins and central bank digital currencies (CBDCs) to tokenized real-world assets (RWAs) such as stocks, bonds, commodities, and real estate. In mid-May 2023, Ripple announced the launch of a CBDC platform for central banks and institutional users. According to the Businesswire press release, the Ripple CBDC platform aims to solve a variety of use cases, including private transactions, wholesale or issuance of stablecoins, etc. At the time, the President of the Republic of Palau, Surangel Whipps Jr., highly praised Ripple. According to a report by Cointelegraph in April this year, the Japanese financial giant SBI Group will become the first Japanese company to use the XRP Ledger blockchain supply chain solution, which is part of Ripple's efforts to promote enterprise solutions in Japan. Additionally, according to Andy Dan, the head of Haskey DX, the good track record, settlement speed, low cost, and scalability of XRPL are key indicators for building supply chain finance solutions. The author believes that Ripple's previous excellent performance in international cooperation, combined with the clearing of the SEC lawsuit, may have led institutions to massively enter XRP, and the altcoin season may start from these high-market-cap veteran tokens that have withstood years of attacks.