Yesterday, a potentially historic event occurred in the crypto markets: XRP (Ripple) was ousted from the third position in the ranking of cryptocurrencies by market capitalization, dominated by Bitcoin.
Sometimes these movements are only temporary, so it is possible that XRP may eventually reclaim the third position, while other times they are permanent.
Summary
The trend of XRP price
XRP is the cryptocurrency created by Ripple back in 2013.
Ripple is still a private company today, but in theory, XRP is based on a network that should be considered decentralized. However, it should be noted that more than 40% of all existing XRP are still held in Ripple’s reserves.
Recently, the performance of the XRP price has not been bad at all, but simply there are those who are currently doing better.
Before Trump’s electoral victory at the end of October 2024, the price of XRP was around $0.5, but with his victory and the end of the SEC’s anti-crypto strategy, it suddenly jumped to $2.7.
Since then, that is from December 2024, it has started a long period of volatile lateralization, still ongoing, which has not allowed it to rise above $3.6 but also not to fall below $1.7.
In fact, excluding temporary peaks, it is essentially a lateralization between $2 and $3.3, with only two exceptions.
Thanks to the late 2024 boom, XRP had surged to the third overall position among true cryptocurrencies by market capitalization, excluding stablecoins, surpassing both Solana and BNB, and remaining behind only Bitcoin and Ethereum. However, things have now changed.
BNB surpasses XRP in the top 10 crypto ranking
In fact, while over the last thirty days the price of XRP essentially remained steady, that of BNB skyrocketed by 50%, reaching new all-time highs.
The all-time high of XRP remains $3.8 from January 2018.
Compared to, for example, ninety days ago, if the price of XRP has risen by 18%, that of BNB has increased by as much as 94%, almost doubling.
This incredible boom in the price of BNB, which for the first time in its history has taken it above $1,000, has allowed it to surpass XRP, momentarily becoming the third largest cryptocurrency by market capitalization in the world.
So now, in light of Bitcoin’s unattainable 2.4 trillion dollar market capitalization, in second place we find Ethereum with 540 billion and in third, BNB, far behind, with 180.
XRP remains at 170, while in fifth place is Solana, slightly behind with its 120 billion.
However, if the price of BNB were to correct a bit, now that it has even risen above $1,300, or if the price of XRP were to start rising, their positions could reverse again.
The cryptocurrency market is experiencing significant fluctuations, with investors closely monitoring the trends of bull and bear movements. As digital assets continue to gain traction, understanding market dynamics becomes crucial for making informed decisions. The XRPUSDT pair on Binance is one of the key indicators traders are watching, as it reflects broader market sentiments. With the integration of advanced charting tools, investors can analyze price movements and identify potential opportunities in the ever-evolving crypto landscape.The dominance of Bitcoin
Note that the entire capitalization of the crypto markets, including stablecoins, is about 4.1 trillion dollars, so at this moment Bitcoin holds almost 60% of the entire crypto market capitalization.
If stablecoins are excluded, which collectively have a market capitalization of just under 310 billion dollars, Bitcoin’s dominance becomes overwhelming.
Suffice it to say that against BTC’s market capitalization of 2.4 trillion dollars, the so-called Total3 barely exceeds 1.1 trillion, as it includes all altcoins except Ethereum, stablecoins, and obviously Bitcoin.
Therefore, Bitcoin alone is worth more than twice all the true altcoins combined, excluding Ethereum. And even adding Ethereum’s 540 billion, it would “only” reach nearly 1.7 trillion dollars.
The dominance of Bitcoin in the crypto markets is absolute, especially since it just recorded its new all-time high a couple of days ago.
All this is well highlighted by both the so-called Bitcoin dominance, which is now at 59%, and the altcoin season index of CMC, which has now fallen into the neutral zone after being in the altseason zone for a few days shortly after mid-September.
In such a scenario, for now, it is impossible to imagine that Bitcoin could lose this dominance in the short term, although in theory, in a distant future, this could also happen.
