Ripple and XRP News
Ripple’s XRP Dethrones ADA as World’s 7th Largest Crypto Coin
Ripple’s native XRP replaces Cardano’s ADA as the world’s 7th largest cryptocurrency by market cap.
During the last 7-days, the crypto market has had a very rough phase. As the Bitcoin fell below $19k, in the meantime, the average price remained $19.5k. Bitcoin lost value by 4% during the period.
All the altcoins, as always, followed the course, and saw a significant downtrend. It is despite this very market situation that the XRP has out performed ADA.
For quite some time, the difference between ADA and XRP market cap was depleting continuously. Currently, relative to the $16.13 billion market cap of ADA, the XRP has a market cap of $16.53 billion.
The reason behind XRP replacing ADA is the On-chain activity on Ripple network. There is a clear surge in On-chain activity over the past three weeks. Although the entire market is facing outflows, Ripple is seeing significant inflows on the network.
One of the causes of investors’ rising trust in XRP may be Ripple’s position in the SEC lawsuit. It is apparent that if Ripple emerges as the victor, which is quite evident, it will be validated. Effectively, Ripple’s XRP will then be one of World’s safest assets to invest in.
Further, Wo Jake, an XRPL developer recently tweeted a thread through which he showed Ripple’s progression with regards to Automatic Market Maker (AMM). The developer stated that the AMM (Automated Market Maker) amendment introduced by Ripple developers, including CTO David Schwartz, has been proposed as PR on rippled’s codebase.
More than a month ago Ripple had proposed ‘XLS-30d’. The proposal sought the introduction of a noncustodial automated market maker (AMM) on XRPL Dex as a native feature. The aim of the proposal was to maximise the returns for the investors supplying liquidity for AMM.
Ripple Releases 1 Billion XRP Tokens as the Token Outperforms Most Other Cryptocurrencies
XRP Outperforms Top 10 Crypto Coins as Ripple’s CEO Expects the Lawsuit to be Decided in Weeks
The Role of Artificial Intelligence in Crypto Trading
90% of Business Leaders Believe Crypto to Have Significant Impact on the Business, Ripple Reports
XRP Records Inflows While Investment in Crypto Goes Down by $232 Million
Recent Press Release
5 Easy Loans to Get Approved For
Easy-to-approve loans are usually available within minutes or hours of your application. Unlike traditional banks and other lending institutions, lenders...
Maximizing Passive Income with NFT Investments and Cloud Mining
NFTproX is an innovative platform for buying and selling NFTs (Non-Fungible Tokens), which utilizes blockchain technology to provide investors with...
Easy Cloud Mining Passive Income with Gbitcoins
With the rise in the wide adaptability of cryptocurrencies, there is an emerging need to generate ways to earn from...
Top 15 Ways to Invest in Cryptocurrency
Investors invest in cryptocurrency because they think that as a particular cryptocurrency’s value increases, so will demand it. You can...
Stay on Top of Your Crypto Game with Live Coin Watch Mobile App
After a successful launch of its popular iOS app, Live Coin Watch is thrilled to unveil its mobile app for...