XRP has had an extremely rough run since 2017 and it just got worse. But despite its poor performance compared to its competitors, it has somehow managed to maintain a top five by market cap dating back to 2013.
The legal blow received by the U.S. Securities and Exchange Commission and subsequent deletion of the crypto exchanges, the altcoin is now at a dangerous risk of dropping out of the top five for the first time since then. Here’s which cryptocurrency could take its place, and a look at how much the top five has changed since 2013.
The top five of the crypto market: 2013 vs 2021
The cryptocurrency market is constantly evolving, and new projects appear regularly that temporarily dominate the space, only to be forgotten later. The best place for investors to look beyond Bitcoin itself is the top five or ten cryptocurrencies by market capitalization.
The higher you get on the list and the longer the asset has held the position, the more likely it is mint has stamina and will continue to do so.
In a very risky space, these coins are among the least risky. But sifting through snapshots from the top five through the history of crypto, even the cream of the crop changes often.
A historical snapshot of crypto in 2013 | Source: CoinMarketCap.com
However, a handful of coins have largely maintained their notch in the upper tiers of crypto market share, such as Litecoin, Ethereum, XRP and of course Bitcoin.
XRP was usually number three, but sometimes two or four slots, depending on the tides at the time, and for the first time since 2013 at risk of booting – possibly forever.
XRP could fall out of favor if investors continue to flee
XRP has long battled Ethereum for the number two spot, and as the crypto market grew, as well as the need for stablecoins, Tether breached the top three.
Related reading | This is why, despite SEC charges, XRP will rise again one day
A newcomer, Polkadot, has now taken the fourth rank from XRP due to the ripple effect of the lawsuit against the token’s parent company. The SEC claims that Ripple has sold unregistered securities and that XRP are the reference securities.
Ripple's market cap is barely holding higher than Cardano | Source: CRYPTOCAP-XRP on TradingView.com
The asset saw one massive delisting in the United States, and now even XRP’s fifth place is at stake against Cardano (ADA).
Ripple has $ 12 billion in market cap left, while Cardano is close behind with $ 11 billion. How far can the cryptocurrency fall out of favor?
Featured image from Pixabay, Charts from TradingView.com and CoinMarketCap.com