The battle for sixth place in terms of the largest cryptocurrency by market cap has taken another turn as XRP has reclaimed its spot after a week-long hiatus.
This came amid Ripple’s massive rally over the past few days, including a surge above $1 and numerous speculations on X about a new all-time high.
XRP Above DOGE
The crypto market has gone through some turbulent times since the US elections last week. At one point, Dogecoin was the biggest gainer, surging by 150% within a week due to the asset’s affiliation with Elon Musk and his future involvement in the Trump administration. Back then, DOGE’s market cap shot up to roughly $60 billion and became the sixth largest digital asset, surpassing XRP and USDC.
Since then, the tides have turned and DOGE is down by 17% to $0.365, with its market cap declining to $52 billion. At the same time, XRP went on a roll and shot up by 100% within the past week to just over $1.1 now. This means that its own market cap has exceeded $60 billion, reclaiming XRP’s position as the sixth largest asset.
$XRP CAME OUT OF 3 YEAR BEARMARKER WITH A SINGLE CANDLE.
POWER OF CRYPTO pic.twitter.com/flEypWjvpG
— Ash Crypto (@Ashcryptoreal) November 16, 2024
Thus, Ripple’s native token remains above $1 for the first time since the bull market back in 2021. The asset’s gains come on the heels of speculations about Gary Gensler stepping down as the chairman of the SEC, as well as Ripple’s CEO holding meetings with Trump about the future crypto policy in the States.
When New ATH?
Ripple has one of the most devoted and growing communities, and they were quick to celebrate the milestone of going above $1. Moreover, predictions started to pop up left and right about the asset’s potential during this bull market and whether it will ever be able to reclaim its 2018 glory when it hit an all-time high of $3.4.
Popular crypto analyst CryptoBull believes the $1.28 level is the most important barrier in the near future. If it goes down, XRP’s next target could be $1.96 and eventually a new all-time high of almost $4.
#XRP may hang out here for a little bit. When it breaks $1.28, the next levels are $1.96 and $3.84. pic.twitter.com/cmqa60CWG3
— CryptoBull (@CryptoBull2020) November 16, 2024
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