XRP Now Accounts for 3% of the Total Crypto Market Cap. The world's 4th biggest cryptocurrency now has a market cap of almost $75 billion, Finance Magnets reports.
XRP saw a dive of more than 40% in the last 7 days as the world's 4th most important digital currency accelerated its price recovery. The cryptocurrency is presently trading above $1.6 with a market cap of more than $74 billion.
According to Coinmarketcap, the XRP market cap has gained considerable value during the last couple of weeks. XRP now has nearly 3.2% of the total market cap of digital currencies.
XRP price is now up by more than 500% because 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 surged from $0.57 to $1.95, the highest level in more than 3 years.
The total market dominance of XRP has actually been on the increase since the start of April. The current jump in Ethereum, BNB, and XRP is triggering a sharp decrease in Bitcoin's market dominance. The cryptocurrency likewise reported a substantial jump in weekly institutional inflows during April as the digital possession drew in roughly $33 million in the second week of April.
Whale Alert likewise pointed out the movement of 7 million XRP coins from a digital wallet to cryptocurrency exchange Huobi. Financing Magnates earlier reported about the transfer of 15 million XRP from digital exchange crypto.com to an unknown wallet.
The overall difference in between the market 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 largest digital currency Bitcoin (BTC) currently has a read more market cap of more than $1.08 trillion.
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