XRP has surged over 20% in 24 hours, replacing Tether's USDT as the world's third-largest cryptocurrency by market value.

Ripple token XRP has surged past Tether (USDT) and Solana (SOL) to become the third-largest crypto by market capitalization.

Ripple Labs' XRP Token has come up trumps post-election to become one of the world’s biggest cryptocurrencies. The currency leapfrogged Solana’s SOL and is now fourth behind only Tether’s USDT, Ether token and of course Bitcoin.

The surge in the value of the XRP token comes amid speculation that the SEC may drop its legal case against Ripple Labs, the company that developed the XRP platform.

XRP, which once was a powerhouse alongside Bitcoin and Ethereum, has returned to its place in the Top 3 ranks of the world's most valuable cryptocurrencies, following a four-year downtrend triggered by the SEC's lawsuit against Ripple.