XRP risks losing top-5 crypto status as Polkadot, Cardano market caps hit $21B

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XRP briefly misplaced its top-three altcoin place on Feb. 9 after newcomer Polkadot (DOT) overtook its market cap in an ongoing altcoin shake-up.

Information from Cointelegraph Markets and CoinMarketCap confirms that XRP is now barely holding on to the fifth-largest cryptocurrency spot and will quickly go away the highest 5 altogether.

Ripple will get flippled… a second time

The brand new order amongst giant cap altcoins comes as a brand new “altseason” hits the market, with buyers’ chosen targets differing significantly from the final in early 2018.

Among the many victims is Bitcoin Money (BCH), which as Cointelegraph reported was faraway from the highest ten altcoins courtesy of Stellar (XLM) and Dogecoin (DOGE) this week.

Within the case of XRP, the losses may have been worse. Buying and selling at $0.46 on the time of writing, the token  beforehand traded as little as $0.16 amid authorized issues at main shareholder Ripple.

Whereas these points stay unresolved and United States regulators should still class XRP as an unregistered safety, its fortunes have nonetheless improved in current weeks.

With its spectacular positive factors all through 2021, nevertheless, Polkadot proved that one of many oldest altcoins available on the market was no match for it. DOT/USD has risen by over 40% previously week alone, having already flipped XRP for a brief time in January.

XRP/USD 1-week candle chart (Bitstamp). Supply: TradingView

Cardano strains up for prime 5 shot

With that, XRP within the prime 5 cryptocurrencies by market cap may quickly be a factor of the previous as fellow contender Cardano (ADA) units its sights on a sidestep of its personal.

As of Tuesday, XRP and ADA each had market caps of over $21 billion. At its peak, XRP’s totaled over $125 billion towards a worth of $3.84 per coin — 735% increased than at current.

Regardless of the dearth of progress versus all-time highs, the altcoin’s notorious military of social media proponents continues to imagine that the great instances are simply across the nook.

By way of main adoption, nevertheless, XRP has been left within the shade as massive enterprise buys Bitcoin (BTC) and institutions further embrace Ether (ETH).