XRP's recent surge in price has propelled it back into fourth place among all cryptocurrencies, according to CoinGecko data. This shift is significant, as it marks a return to prominence for the Ripple token after a prolonged period of sideways price action.
The XRP Ledger has also reached a new record, with 7.7 million holders for the first time in its 13-year history. On-chain activity has been increasing, with active addresses hitting a five-week high of 46,767 on Monday.
Furthermore, the SEC and CFTC's joint release of a landmark token taxonomy has provided regulatory clarity for XRP, explicitly naming it as a digital commodity and therefore a non-security.