XRP has freshly dethroned Solana (SOL) and Cardano (ADA) in market capitalization. Despite how the altcoin market seems to be on the decline, XRP did well as it overtook SOL and ADA at this crucial time.
To put in numbers, XRP swiftly surpassed Solana, Cardano, and the other more popular altcoins with a market cap value of almost $37 billion, based on CoinMarketCap. This massively pushed XRP to rank as the 6th largest cryptocurrency in the world.
Apart from the crypto’s drastic market cap surge, XRP trades at $0.7812 per crypto at the time of writing. With the value of the crypto’s market capitalization, traders believe that XRP will transcend a new limit to hit $1 soon. That said, if it manages to record the projected $1 soon, this will represent a groundbreaking surge for XRP since 2022 began.
Furthermore, following XRP is ADA and SOL with a growth rate of 1.35% and 4.86%. The said cryptos rank 7th and 8th, respectively on CoinMarketCap. In addition, after SOL is Terra (LUNA) in the 9th position.
Despite the speculation of “Fear, Uncertainty, and Doubt (FUD)” around XRP since the start of the US SEC lawsuit, traders see XRP as an asset of value. This is due to XRP’s proper maintenance of its market since the lawsuit. Overall, it seems like more and more investors are accumulating XRP that has co-led the rise of its market cap.