As of writing, XRP sits in the 6th position among all cryptocurrencies ranked by market cap. In a highly dynamic ecosystem, capital comes and goes, flowing between the projects, in and out of the crypto market.
Currently, XRP is valued at $28.028 billion in a $1.516 trillion market, holding 1.85% of this total. The token’s unitary price is $0.517, with a 54.339 billion XRP circulating supply.
In the meantime, supply and demand constantly move the asset’s price up and down, flowing from one cryptocurrency to another. Bitcoin (BTC), for example, dominates the total crypto market cap by around 51%, with nearly $785 billion in capitalization.
XRP market cap vs. the total crypto index – monthly chart. Source: TradingView
Nevertheless, this observed trend could shift in the future, facing an expected increased demand for Ripple’s digital assets. XRP use cases for remittances and payments could fuel adoption and compensate for the sell-offs.
All things considered, its ability to absorb 1% of the total crypto market cap is uncertain and fully dependent on XRP, which is proving to have real competitive advantages in this industry.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
