Just days after XRP ranked sixth, the cryptocurrency is now in seventh place based on its market capitalization worth over $ 23 billion.
No one thought the effect of the Securities and Exchange Commission (SEC) suit against Ripple could drown XRP to the lowest level, something that never happened.
In fact, the factor of investors selling XRPs such as the actions of former CTO and Ripple founder Jed McCaleb selling the majority of his XRP holdings since last week has exacerbated the situation.
For years XRP held the third position after Bitcoin (BTC) and Ethereum (ETH), now Tether (USDT) is emerging as a replacement.
This is the first time XRP is behind with a current price of $ 0.52, down 3.66% in 24 hours, overtaking Binance Coin (BNB), Cardano (ADA) and Polkadot (DOT). With three more positions left before being knocked out of the top 10 charts, is there still a chance for XRP?
As the price of XRP continued to depreciate, most other altcoins recorded prices many times higher. Leave XRP behind as most investors are more attracted to altcoin which is more potential at the moment.
However, XRP hodlers who are still confident in this Ripple currency should not despair! If Ripple wins in the SEC allegations, XRP will surely be able to recapture its original position.
In fact, it is no exaggeration to say that XRP will make a more terrible appearance than other altcoins, setting another record in the history of cryptocurrencies.
