XRP saw a jump 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 gained significant value during the last few weeks. XRP now has nearly 3.2% of the total market cap of digital currencies. Bitcoin remained the most dominant cryptocurrency with a market dominance 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% since 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 spiked from $0.57 to $1.95, the highest level in more than 3 years.
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The total market dominance of XRP has been on the rise since the start of April. The latest jump in Ethereum, BNB and XRP is causing a sharp decline in Bitcoin’s market dominance. In addition, the cryptocurrency reported a significant jump in weekly institutional