Ripple Overtakes Cardano In Total Market Cap

By Kevin • June 24, 2022 4:38 pm • Comments

Just a couple of months ago, the total market cap of Ripple (XRP) lagged behind Cardano by nearly $2.3 billion and was quite a distance away from the spot it used to hold due to regulatory interference.

During this current crypto bear market which has persisted in the past few months, Ripple has now managed to reach new levels in market cap level and has now surpassed Cardano again despite the market conditions.

As of right now, XRP is now ranked the 6th largest digital asset by market cap and now currently surpasses Cardano by roughly a billion dollars.

Trending: Bitcoin SUPPLY SHOCK, Timeline For Potential Crisis Revealed

This recent record was achieved due to XRP’s recent price move where the asset experienced an impressive 13% rally which indicates strong support at the current price levels.

U.today reports:

The battle between Cardano and Ripple is definitely not over.

Both projects are waiting for a breakthrough in their way and have a couple of aces up their sleeves that, given the right circumstances, will help them not only consolidate their sixth-eighth places at the top, but possibly go further and take the sweet fifth place of Binance Coin (BNB), which embodies the power of one of the largest crypto exchanges in the world and a very popular blockchain network, BNB Beacon Chain.

As things stand, Ripple fans and builders are eagerly monitoring the ongoing case of the U.S. SEC against the company, which, according to the latest news, seems to be nearing completion.

Cardano, on the other hand, is actively working on the Vasil Hard Fork event, which should take the blockchain to the next stage of evolution. We will continue to follow the course of this multibillion-dollar race with great interest.

Reasons for the recent rally of XRP could be attributed to multiple reasons such as the company’s international expansion and its strong hiring spree to acquire new tech talent.

After all, the company had just opened new offices in Canada as part of a long list of offices that it has around the world.

Additionally, the firm had released on its new website earlier this year about the impressive demand for Ripple’s On-Demand liquidity which has attracted financial institutions all around the world.

This is quite the contrast with many other blockchain firms right now which are struggling to survive and are in the middle of layoffs.

Investors expect the current bear market will wipe out a large amount of crypto projects and will strengthen the ones that have true utility.

CryptoNewsBTC.org reports:

Ripple hits $18 billion and beats Cardano by market capitalization.

Regardless of a suspicious lull within the crypto market, CoinMarketCap’s high by market capitalization stays the positioning of a heated battle for high spots between Ripple (XRP) and Cardano (ADA).

What’s humorous is that on the very finish of Could, each corporations had a number of billion extra in capitalization, and the present place Ripple is taking is primarily on account of in the present day’s impressive 13% increase within the worth of XRP, which is twice the value of Cardano (ADA).

Nicely, at the least there may be progress, and thanks for that.

Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

 

Search ProCoinNews