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Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
xrp ripple crypto market

An SEC Ripple Effect Leaves XRP Sliding the the Crypto Top 10

Tony Spilotro by Tony Spilotro
2 years ago
in XRP
Reading Time: 3 mins read
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XRP is unsurprisingly lagging behind the rest of the incredibly bullish crypto market and altcoin space. The SEC’s charges against Ripple executives asserting that the token itself is an unregistered security have harmed any chance of upward momentum.

It has also caused the altcoin to sink further and further down the ranks of the top ten crypto assets by market cap, less so because of sellers dumping XRP, but because other coins are flying so high and leaving Ripple behind. Here’s what the current top ten looks like and how Ripple now fits into the fold.

XRP Sinks To Number Seven Spot In Crypto Top Ten By Market Cap

XRP for almost the entirety of its existence sat firmly in the top ten cryptiocurrencies by market cap in the third rank, behind Bitcoin and Ethereum.

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At times, it pulled ahead of Ether, and other times Tether took the third spot instead. But for all intents and purposes, the year over year average has been number three for XRP for many years now.

xrp crypto market cap ripple

XRP has fallen to the number seven spot in the top ten cryptocurrencies by market cap | Source: CoinMarketCap

For the first time in years, XRP now ranks number seven behind Binance Coin, Cardano, and Polkadot.

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The altcoin was already a laggard in crypto market terms, throughout the last several years. But after a failed breakout earlier this year, it is now miles behind by comparison.

Related Reading | Forget 2021, Here’s How High Crypto Prices Can Go By 2026

XRP had started to soar, with some of the wildest gains to kick off the altcoin season that’s been ongoing for some time. But claims from the SEC charging the coin’s parent company, Ripple, took the wind out from beneath the rally.

Price action came crashing back on both USD and BTC pairs, and since then XRP is mostly been trading sideways, with some coordinated pumping and dumping along the way.

 xrp ripple sec crypto

The altcoin unfortunately failed to break out and is now lagging behind other coins | Source: XRPUSD on TradingView.com

While XRP trades sideways and nowhere near all-time highs, other altcoins are breaking above theirs and rising five-fold. With more and more coins soaring left and right, whatever XRP holders that remain could be tempted to sell in search of profits elsewhere.

Related Reading | Altcoin Season Is Here: “Buy Crypto” Surpases Bitcoin Searches On Google

However, if Ripple can win the case ultimately, XRP could eventually make a comeback compared to the rest of the market. When XRP breaks out, it moves some of the largest in terms of total percent climbed.

With so much more ground to cover just to make it closer to Bitcoin and Ethereum, XRP could have one of the largest comebacks in crypto history.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: altcoincryptoRipplexrpXRPBTCXRPUSDxrpusdt
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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