You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-xrp-a-potential-surge-with-market-dominance" rel="noopener noreferrer nofollow">Ripple’s XRP: A Potential Surge with Market Dominance</a> 
The constant movement of capital among cryptocurrency projects contributes to the volatile nature of the market. Ripple’s <a href="https://en.bitcoinhaber.net/ripples-xrp-in-the-spotlight-large-whale-transactions-stir-concerns" rel="noopener noreferrer nofollow">XRP</a>, one of the most popular altcoins, currently ranks 6th by market value, with a capitalization of $28.02 billion, while the total market value of cryptocurrencies hovers around $1.51 trillion. XRP accounts for 1.85% of this total market value.
Just like traditional financial markets, the crypto market is driven by supply and demand dynamics. Capital tends to flow from one cryptocurrency to another. For instance, Bitcoin’s market value constitutes 51% of the total crypto market, nearing $785 billion.
If 1% of the total market value shifted to XRP, increasing its market dominance by 1% without a change in supply, its market value could rise by $15.16 billion, pushing XRP’s price to potentially $0.794.
However, XRP’s price is pressured by Ripple’s actions, as it consistently increases the circulating supply, releasing new XRP each month. This supply increase is evident in XRP’s market value graph, particularly after the 2017-2018 rally when the price peaked and then retracted under selling pressure.
Since then, despite an overall increase in total market value, XRP’s price has been trending downward, and its market dominance has been decreasing. Nevertheless, this trend could change if demand for Ripple’s altcoin increases due to its use cases in money transfers and payments, potentially leading to higher adoption and absorption of selling pressure.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/ripples-xrp-a-potential-surge-with-market-dominance" rel="noopener noreferrer nofollow">Ripple’s XRP: A Potential Surge with Market Dominance</a></h5>

Ripple’s XRP: A Potential Surge with Market Dominance

BH NEWS

Other articles published on Jan 25, 2024

Ethereum Struggles As Crypto Market Outflows Mounts: Whales Turn To XRP and NUGX

Thinking of Investing $1,000 in Ripple’s XRP? Here’s How Much It Could Be Worth By 2025

3 Cryptocurrencies Cheaper Than A Hot Dog That Will Outperform Ethereum In 2024

Solana’s Token Extensions: Turbocharging Token Innovation

VOLT Crypto: Can Volt Price Decline & Reach Lower Levels?

Bitcoin’s Leverage and Funding Rates: A Potential Buying Opportunity?

Join our free newsletter for daily crypto updates!