XRP has had an extremely difficult run since 2017 and it has only gotten worse. Despite the poor performance compared to its competitors, it managed to keep its market cap up to the top 5 from 2013.
However, due to the legal backlash from the US Securities and Exchange Commission and the subsequent delistings of crypto exchanges, there is a risk that the altcoin will drop out of the top 5 for the first time since that time. Here’s which cryptocurrency could take their place, and a look at how far the top 5 have changed since 2013.
The Crypto Market Top Five: 2013 versus 2021
The cryptocurrency market is constantly evolving, with new projects appearing regularly, temporarily dominating the space only to be forgotten later. The best place for investors to look beyond Bitcoin is in the top five or ten cryptocurrencies by market capitalization.
The higher up the list you are and the longer the asset has held position, the more likely the coin will last and will continue to do so.
Related reading | Analyst who named Coinbase XRP delisting says SEC is “investigating” other altcoins
In a very risky room, these coins are among the least risky. However, when browsing through snaps of the top five in crypto history, even the crème de la crème often changes.
A historical snapshot of crypto in 2013 | Source: CoinMarketCap.com
However, a handful of coins like Litecoin, Ethereum, XRP and of course Bitcoin have for the most part held their own in the upper tiers of crypto market share.
XRP was usually ranked third, but sometimes ranked two or four, depending on the tide at the time, and for the first time since 2013 is in danger of being booted – possibly forever.
XRP could fall out of favor if investors continue to flee
XRP has long battled Ethereum for second place, and as the crypto market grew and the need for stable coins increased, Tether grabbed the top three.
Related reading | Here’s why XRP will one day rise again despite SEC fees
A newcomer, Polkadot, has now overtaken XRP’s fourth rank due to the ripple effect of the lawsuit against the token’s parent company. The SEC claims that Ripple sold unregistered securities and that XRP are the reference securities.
Ripple’s market capitalization is barely higher than Cardano | Source: CRYPTOCAP-XRP on TradingView.com
The asset has been delisted on a massive scale in the US, and now XRP’s fifth place against Cardano (ADA) is even on the ropes.
Ripple still has a market cap of $ 12 billion, while Cardano is right behind at $ 11 billion. How far could cryptocurrency fall out of favor?
Featured image from Pixabay, charts from TradingView.com and CoinMarketCap.com