CoinMarketCap statistics show that Ripple (XRP) has overtaken Cardano (ADA) as the seventh most valuable cryptocurrency in the world, which is an interesting turn of events. XRP now has a market cap of $15,410,470,239, while ADA has a cap of $15,174,615,603, giving XRP a lead of about $300 million.
Given the recent market decline, XRP is currently trading at $0.3178 on a variety of cryptocurrency platforms, a 1.69 percent increase over the previous day.In contrast, the price of Bitcoin and Ethereum, two of the most popular cryptocurrencies, rose by less than 1% in the last day.
XRP’s 24-hour trading volume was nearly twice that of ADA’s, at $800 million. To put it another way, in the previous seven days, both of these cryptocurrencies have seen their value plummet by more than 12%.
Payments using XRP are made possible by the Ripple blockchain, which has partnered with numerous major brand companies. The XRP Ledger (XRPL) was introduced in Colombia on July 1st, with a nationwide land registration for more than 50 million people. The government will use QR codes to verify the digital data and records on XRPL.
The crypto market as a whole has been on a downward spiral since December 2021, with BTC down more than 65 percent. Since its all-time high (ATH) of $3.84 five years ago, XRP has lost 99.67 percent of its value. Only ten months ago, ADA set its all-time high of $3.10, and it has since dropped by 85%.