XRP has flipped Solana in an unusual change of events (SOL). XRP is presently the world’s sixth most valuable digital currency by market capitalization.
With a market valuation of $25,935,499,965, XRP is now trading at $0.536664, up 0.2 percent in the last hour. Solana now has a market capitalization of $24,166,338,404.
According to Twitter analysts, XRP’s daily close exhibits a positive divergence. Nevertheless, not everyone agrees; others claim to have been waiting for the XRP relief for years and have been dissatisfied.
The cryptocurrency market is in the red, with Bitcoin’s price plummeting to $32,979.21. As a result, whales are moving and liquidating their BTC in bulk to achieve this goal. Unfortunately, other currencies aren’t faring any better, with the cryptocurrency market losing $320 million in the last 24 hours, according to WatcherGuru.
Notably, Solana hit an all-time high (ATH) of $259.96 in November 2021. It has subsequently dropped by 72%. XRP, on the other hand, reached an all-time high of $3.40 in January 2018. It’s down 84 percent from its all-time high.
XRP has been stuck in a rut for the last several months, with the SEC hot on its heels. Despite these setbacks, Ripple CEO Brad Garlinghouse said that the company enjoyed a record year in 2021 and a record first quarter in 2022.
The Securities and Exchange Commission (SEC) sued Ripple Labs in 2020 for creating and distributing illegal securities – XRP tokens — to the general public. The SEC vs. Ripple action is being closely watched by the industry since its outcome will set a precedent. The results of this lawsuit, in particular, will serve to smooth the legal environment for coming initial coin offerings.