XRP is Now The world's 4th Biggest Cryptocurrency
XRP Now Accounts for 3% of the Total Crypto Market Cap. The world's 4th biggest cryptocurrency now has a market cap of nearly $75 billion, Finance Magnets reports.
XRP saw a dive of more than 40% in the last 7 days as the world's 4th most valuable digital currency accelerated its price recovery. The cryptocurrency is currently trading above $1.6 with a market cap of more than $74 billion.
According to Coinmarketcap, the XRP market cap has actually gained substantial worth throughout the last couple of weeks. XRP now has almost 3.2% of the total market cap of digital currencies. Bitcoin stayed the most dominant cryptocurrency with a market supremacy of approximately 47.7%. Ethereum's market dominance currently stands at around 15.7%, followed by Binance Coin (BNB) at 4.1%.
XRP price is now up by more than 500% considering that the start of this year. The cryptocurrency was trading at around $0.23 on 1 January 2021. The price rally gathered momentum in April as the digital currency increased from $0.57 to $1.95, the highest level in more than 3 years.
The total market dominance of XRP has been on the rise considering that the start of April. The current jump in Ethereum, BNB, and XRP is causing a sharp decrease in Bitcoin's market dominance. The cryptocurrency likewise reported a substantial jump in weekly institutional inflows during April as the digital asset attracted around $33 million in the 2nd week of April.
Whale Alert also pointed out the movement of 7 million XRP coins from a digital wallet to cryptocurrency exchange Huobi. Finance Magnates previously reported about the transfer of 15 million XRP from digital exchange crypto.com to an unknown wallet.
The overall distinction between the marketplace cap of XRP and Binance Coin (BNB) currently stands at around $20 billion. In general, the market cap of digital currencies touched $2.27 trillion on Monday, the highest level on record. The world's biggest digital currency Bitcoin (BTC) presently has a market cap of more than $1.08 trillion.