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