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June 27, 2022
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What are the chances of XRP falling out of the top 10 crypto?

Probable drop in memecoins tends to boost XRP

In the continuous rise of altcoins, memecoins are not the only ones that are making headlines and returning from the price drop that followed the 2017 bull run. XRP and DOGE, alongside BNB, emerged as the two main altcoins with greater dominance and popularity.

Rising prices driven by social volume pushed the price upwards, resulting in upward sentiments. Google trends for the top 10 cryptocurrencies show growing interest in XRP, DOGE and ETH. Interest has steadily increased over the past two months.

Source: Twitter

The results of Google Trends agree with the social sentiment. XRP is currently trading at the $ 1.42 level and, in the past 24 hours, the price has dropped by more than 10%. The volume of trade has increased by almost 50% in the last 24 hours.

However, with the current supply of XRP in circulation, 35 billion units of the currency and at the current price level, XRP has fallen to 8th place in terms of market capitalization. In addition, after a sustainable price increase with ROI above 198% in 60 days and 184% in 90 days, Ripple’s token price was corrected several times before reaching the $ 3.84 ATH 3 years ago .

Why XRP won't drop out of top 10 altcoins anytime soon

XRP price chart || Source: CoinGecko

More than 1200 new accounts were created in the last 24 hours and more than 210000 transactions took place the day before. Based on the price chart, there is a consistent gain in the XRP price and a steady increase in volatility.

The XRP’s dominance has steadily increased and there is room for the XRP price rally and for altcoin to remain in the top 10, given memecoins with unsustainable rallying that should leave the top. With increasing selling pressure, declining volatility and social volume based on data from lunarcrush.com, the rise in memecoins may come to an end before an extended price hike.

This leaves room for the XRP price hike and there may be a recovery in terms of market capitalization as well. After falling from 2nd place, the cryptocurrency consistently fell below the top 5 and this led to the anticipation of its fall below the top 10. However, based on the chain metrics and price chart, XRP is on the road to recovery in the short term and altcoin is expected to return to the top 5 in the coming weeks of May 2021.

Source: AMBCrypto

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