The fast-paced world of cryptocurrencies is putting more and more pressure on XRP. Dogecoin and TON are making significant moves to test its spot in the top 10.
It’s been only two days, but the amount of XRP moved has dropped sharply, from $4.87 billion to $2.43 billion. The price of the token has dropped from $0.54 a few days ago to $0.49 now, which is an alarming sign that people are ending their interest in it.
XRP’s Uphill Battle Amid Market Challenges
It’s scary to think that XRP could go down even more as long as the market stays doomed. The fact that the token fell from fifth to seventh place on the market cap list shows how hard it is for it to keep the high rank it once had.
It will be very hard for Ripple to get back to the top of the rankings because its market cap is so much lower than that of USDC—a significant $5 billion gap. This difference, which is mostly due to poor price performance, throws a shadow over XRP’s future.
On-chain data that shows a lot of Ripple leaving platforms is a sign that its value might be leveling off. There is an opportunity that we will lose ground to Dogecoin and TON, though, as they are showing stronger progress.
Since Dogecoin and TON are still going up, Ripple might have to fight not only to stay where it is but also to get into the top 10 cryptocurrency. The race for market cap supremacy is going to get harder soon, since Cardano is on the way.
