Despite XRP reaching a new all-time high in 2025 and being approved for spot ETF trading, its market capitalization surpassing Ethereum to become the second-largest cryptocurrency still faces many challenges. Analysts point out that compared to XRP's ledger, which mainly focuses on cross-border transactions, Ethereum has a broader range of applications and a more diversified ecosystem supporting numerous crypto projects and Web3 applications. While XRP's growing popularity in international payments may promote its future use, its currently narrow use cases remain a key obstacle.

XRP-3.27%
ETH-4.7%
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