- XRP (XRP) returned Solana (SOL).
- XRP ranks 6th among cryptocurrencies by market capitalization.
- The crypto currently has a market capitalization of $25,935,499,965.
XRP is now the sixth largest cryptocurrency in the world by market capitalization.
At the time of writing this article, with a market capitalization of $25,935,499,965, XRP is at $0.536664, up 0.2% in the last hour. Meanwhile, Solana has a current market cap of $24,166,338,404.
Analysts on Twitter also claim that XRP has its daily close with a bullish divergence. However, not everyone agrees with this; some say they have been waiting for relief from XRP for years, but have been left disappointed.
The crypto market in general is bleeding red with the price of bitcoin crashing to $32,979.21. To this end, whales are transferring and liquidating their BTC en masse. Other cryptos do no better and a huge amount of $320 million was liquidated from the cryptocurrency market in the last 24 hours, according to WatcherGuru.
Notably, Solana hit its all-time high (ATH) in November 2021 at $259.96. It has since fallen 72%. On the other hand, XRP reached its ATH in January 2018 at $3.40. He’s down 84% since his ATH.
To emphasize, XRP has been in a bit of a heat in recent months with the SEC hot on its heels. However, Ripple CEO Brad Garlinghouse noted that despite these hurdles, Ripple had a record year in 2021 and a record first quarter in 2022.
In 2020, the SEC sued Ripple Labs for issuing and selling unauthorized securities – XRP tokens – to the public. The entire industry is watching the SEC lawsuit against Ripple with impatience, as its outcome will set a precedent. In particular, the findings of this case will also help clarify the regulatory landscape for future initial cryptocurrency offerings.
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