The market capitalization of the fourth largest crypto in the world is almost $75 billion that makes Ripple (XRP) account for 3.2% of the total cryptocurrency market cap.
Over the past 7 days, XRP has jumped more than 40% becoming the world’s 4th most valuable digital currency. XRP is currently trading above $1.6 with a market capitalization of over $74.24 billion.
According to Coinmarketcap, XRP’s market cap has grown significantly over the past few weeks. XRP now accounts for almost 3.2% of the total market capitalization of digital currencies.
Bitcoin remained the most dominant crypto with approximately 47.8% market dominance. Currently, the market dominance of Ethereum is about 15.6%, followed by Binance Coin (BNB) with a dominance of 4.2%.
The price of XRP has increased by more than 500% since the beginning of this year. XRP was trading at around $0.23 on January 1, 2021. The price gained momentum in April, when the digital currency jumped from $0.569 to $ 1.94, the highest level in more than 3 years.
XRP’s overall market dominance has been growing since the beginning of April. The latest surge in Ethereum, BNB, and XRP is causing a sharp decline in Bitcoin’s market dominance.
According to Coinshares report, XRP had a significant jump in weekly institutional inflows in April, as the digital asset raised an estimated $33 million in the second week of April.
The total difference between the market capitalization of XRP and Binance Coin (BNB) is around $20 billion.
Overall, the market capitalization of digital currencies reached $2.25 trillion on Monday, the highest ever.
Bitcoin (BTC), currently has a market cap of more than $1.10 trillion.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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