XRP, a token linked to Ripple Labs Inc., has vaulted rivals to become the third-largest cryptocurrency in a $100 billion rally. XRP becomes the third-largest cryptocurrency in a $100 billion rally after Donald Trump’s win The token rose as much as 32% on Monday to $2.87. In the process its market capitalization topped $154.6 billion, up from less than $30 billion on Nov. 5, when Donald Trump emerged victorious in the US presidential election, according to CoinGecko data. The latest price spike was driven by continued overseas buying, primarily in South Korea, as well as short liquidations on futures exchanges, according to Edward Chin, co-founder of Parataxis Capital. About $60 million in XRP short positions were liquidated in the last 24 hours, which was more than short liquidations for Bitcoin and Ether combined. “The move seems to be entirely retail driven as nothing has fundamentally changed for XRP itself,” Chin said. “The move looks to be excessive given XRP is now a top-three digital asset, but that doesn’t mean that it can’t continue given the …