XRP Beats Market Cap of Solana, Regains 6th Spot

XRP’s total market cap crossed $50 billion on Monday.

XRP has regained the title as the world’s 6th most valuable cryptocurrency just 4 days after losing its place to Solana (SOL). According to Coinmarketcap, XRP’s market cap jumped above $50 billion on Monday.

Last week, Solana touched the market cap of $60 billion and became the world’s 6th largest digital asset. However, SOL has crashed by more than 20% in the last three days as its market cap dropped below $47 billion. In contrast, XRP remained stable during the mentioned period and its price stayed above $1.05.

The overall address activity of XRP increased sharply last week nearing the price level of $1.10. According to Santiment, the number of unique XRP addresses spiked substantially over the last few days amid a surge in demand from retail investors.

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On 7 September 2021, the total market capitalization of XRP crossed $70 billion for the first time since May 2021. Although, the latest crypto market correction caused a sharp drop in its price as the digital asset dipped by more than 15% in the last five days. In terms of market cap, XRP is more valuable than Solana (SOL), Polkadot (DOT), Dogecoin (DOGE), Chainlink (LINK) and Uniswap (UNI).

XRP’s Market Dominance

With a market cap of approximately $50 billion, XRP accounts for more than 2% of the total market capitalization of digital currencies. The overall market cap of crypto assets currently stands at around $2 trillion, which is a drop of $200 billion in the last seven days. XRP is now eyeing the market dominance and market cap of Binance Coin (BNB), the world’s 5th most valuable digital currency. Presently, BNB has a market cap of over $67 billion and a market dominance of nearly 2.5%.

According to Whale Alert, a leading blockchain tracking and analytics platform, a crypto whale address moved 20 million XRP coins worth nearly $22 million from an unknown digital wallet to Bitso exchange. The mentioned transfer was executed on Sunday 12 September 2021 at 22:43 UTC.

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