Ripple's XRP token underwent a dramatic price surge over the holiday period, climbing to $2.50 before skyrocketing further to $2.87 on Monday. The rally underscores renewed investor interest in XRP, making it one of the fastest-growing cryptocurrencies during the 2024 season,

XRP, a token linked to Ripple Labs Inc., has vaulted rivals to become the third-largest cryptocurrency in a $100 billion rally. The token rose as much as 32% on Monday to $2.87. In the process its market capitalization topped $154.

The currency leapfrogged Solana’s SOL and is now fourth behind only Tether’s USDT, Ether token and of course Bitcoin. Forbes reported that Ripple’s market cap has risen from around $30 billion to $131 billion by Monday. But why is XRP going up, and why is the price prediction continuing to rise?