Ripple’s XRP token is among the most used crypto assets in the market. 2025 was particularly bullish for XRP, especially after the settlement of the SEC vs. Ripple lawsuit. XRP hit a new all-time high earlier this year after nearly seven years. While XRP has been showing incredible growth, let’s discuss if the popular crypto can overtake Ethereum (ETH) to become the second-largest crypto project by market cap.
Can XRP Overtake Ethereum?
According to CoinGecko’s ETH data, Ethereum is the second-largest crypto project, with a market cap of roughly $370 billion. XRP, on the other hand, is the 4th-largest crypto project, with a market cap of about $131 billion.
One of the biggest drivers for Ethereum’s (ETH) price and adoption is the fact that the Ethereum network is home to a large number of applications. Moreover, several crypto coins are based on the Ethereum network. XRP, meanwhile, does not have a network that supports building applications. The XRP Ledger is more catered towards transactions and cross-border remittances. The XRP Ledger has also seen incredible adoption among several banks, especially banks in Japan. A similar pattern could emerge in the US as well over the coming years.
While XRP is expected to continue growing over the coming years, it is unlikely to overtake Ethereum (ETH) anytime soon, if ever. However, consistent adoption growth could lead to a dramatic rise in the project’s market cap.
Both XRP and Ethereum have ETF vehicles for financial institutions. Ethereum (ETH) climbed to a new peak earlier this year, thanks to large ETF inflows. XRP’s ETF is yet to display such a pattern.
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The crypto world is full of surprises, and we could eventually see XRP overtake Ethereum as the second-largest crypto. However, the development could take a long time to realize.