Just exactly four days back, it was a moment of history for Solana (SOL), as it overtook Ripple’s XRP, becoming the new 6th biggest cryptocurrency in the world. However, despite all such efforts in gaining an overall market cap greater than that of XRP, the reign of SOL was so short-lived. And so, SOL could only keep up the title of ‘the 6th largest cryptocurrency in the world’ just for a period of four days!
Within a time period of just four days, XRP gained back its momentum, with a raise in its market cap. Accordingly, it gained back its title of being the 6th largest crypto.
The Rise of the Fallen
When it comes to the top ten largest cryptocurrencies in the market, it’s not an often site to see one overtaking the position of the other. However, the whole market sprung to surprise when Solana (SOL) overtook Ripple’s XRP in terms of higher market capitalization.
At the time of its rise, SOL managed to back together a market capitalization of $60 billion. This made SOL the 6th digital crypto asset in the world, dethroning XRP.
In addition, at the same time SOL touched it’s all-time high of $214.96, which is something extraordinary for a crypto who started its journey as low as $0.515. Also, the major thing to note is that SOL was launched just about a year and a half back, in March of 2020 to be more precise.
Despite all this, the new title for SOL was extremely short-lived though. The Ripple’s XRP sprung up again , rising from the fall on Monday, just a few hours back. It gained momentum of over all market cap of $50 billion plus.
On the other hand, at the same time SOL dropped down today suffering drastically, with the graph all moving down in red , taking the 24 hours charts into consideration. SOL dropped about more than 20%, with its market cap drawing down. And so, with the rise of XRP and fall of SOL, XRP gained back its title as the 6th largest digital crypto asset back again.
At present the overall market cap of XRP is around the $50 billion range profusely. The price of Ripple (XRP) at time of writing is $1.06 with the graph down about 4.49% though. However, the XRP has an overall market dominance of about 2.43%, making it remain stable, not breaking or from letting it go off its tracks.
On the other hand, the profuse and well established open-sourced platform of XRP is an extremely vital point for the market dominance.
Moreover, many don’t know that the XRP is actually the cryptocurrency used upon the RippleNet payment platform. Also, this RippleNet payment platform is run by the firm , the Ripple.
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