Emre Yumlu 
XRP Surpasses Ether’s FDV as Trump’s Crypto Vision and Regulatory Changes Support XRP.
XRP Surpasses Ether’s FDV Amid Changing Market Dynamics
According to data from CoinGecko on March 14, XRP’s fully diluted valuation (FDV) has surpassed Ether’s.
This shift in FDV marks a reversal of fortunes for both layer-1 (L1) blockchain networks, as XRP Ledger’s decentralized finance (DeFi) ecosystem gains momentum, while Ethereum faces increasing competition from rival L1s like Solana.
As of March 14, Ripple’s FDV was measured at nearly $235 billion, surpassing Ether’s by over $1 billion. CoinGecko data shows that Ether’s market capitalization still leads at $233 billion, compared to XRP’s $136 billion.
FDV measures the total value of all tokens, while market capitalization only accounts for circulating tokens.
Ripple Labs, the developer of Ripple, holds a multibillion-dollar share of its chain’s native token.
Trump’s Crypto Vision and Regulatory Changes Support XRP
XRP’s price has surged by 300% since the U.S. elections on November 5, rising to $2.3. Trump aims to make America the “crypto capital,” and XRP, which targets enterprise users, unveiled a DeFi roadmap in February. In January, XRP’s decentralized exchange surpassed $1 billion in transactions.
Trump plans to include XRP in the proposed U.S. Digital Asset Stockpile. The SEC is reportedly finalizing its case against Ripple, which has been ongoing since 2020.
Meanwhile, Ethereum’s spot price faced difficulties in March 2024, though the Dencun upgrade reduced transaction fees by about 95%. Solana, with its rapidly growing transaction volume, has nearly matched the combined transaction volume of Ethereum and all layer-2 scaling chains.
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