XRP is still among the top three altcoins despite the volumes of the altcoin sunk below those of EOS which trades at $2.6 billion per day. In the Ripple news below, we dive into the analysis.
The asset has been engineered to become a top coin and XRP has been among the top two places on the digital assets list by market capitalization but the main reason is the high intended number of tokens issued.
XRP has even surpassed Ethereum a few times in history and even once aimed to displace BTC from the throne but of course, this was unsuccessful. However, XRP is still among the projects that place high bets which keep the ticker highly visible closest to the top. The strategy was followed by many other projects which issued millions of coins and even helped them to move up the charts. The market cap has little meaning as the actual coins traded or realized market cap which tells a different story.
The goal of 100 billion XRP is not all available for trading and most are locked up and wait to be released over the next 18 years. Despite all of the efforts and high publicity, XRP is still stuck at $0.30. The asset marks around $103 million of inflows from Tether and also an additional $131 million from the BTC market. The coin even lost the enthusiasm of the Korean traders and now relies on small exchanges to achieve liquidity.
The place of XRP at the top has also angered the community and the reason for this is that the token is not carried by a blockchain but a network of servers in which about eight of them are run by Ripple. With the launch of RippleNet, the price was expected to spike but it was still not influenced XRP’s price, not even a little bit.
XRP is also among the top coins on social media. This cryptocurrency is prominent especially this month with the hype increasing in the days to the annual Swell conference. The asset has seen the usual share of the predictions with prices seen reaching about $8 based on the optimistic predictions. XRP has a market cap above $12 billion, making it a far cry from Bitcoin- estimated above $140 billion.
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