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Ripple’s native crypto, XRP is dealing with intense selling pressure as it has been printing red indexes on multiple metrics. The ongoing situation suggests that XRP is stuck in a very close price range, unable to break out despite a recent upward push. It turns out the major <a href="https://news.todayq.com/lto-network-makes-their-layer-1-blockchain-available-for-the-fight-against-counterfeit-goods/">Layer-1 tokens</a> are now racing up to overtake the XRP’s position. XRP stuck in high selling pressure 
Data shows that XRP finds itself facing an uphill battle against some major contenders like Binance Coin (BNB) and Solana (SOL). The gap between these crypto market caps is increasing day by day. Amid the XRP’s battle of resurgence, <a href="https://news.todayq.com/shiba-inu-avax-leads-market-recovery-bitcoin-aims-to-regain-69k/">Avalanche (AVAX)</a> is covering the ground real quickly. 
With the current market cap data, XRP sits behind both BNB and SOL with a market cap of $33.49 billion. Binance Coin and Solana’s markets stand at $84.65 billion and $92 billion, respectively. However, the new contender to the scene, AVAX is slowly closing in to surpass XRP with a market cap of $24 billion. 
As we dig in, data shows that XRP price dropped marginally in the last 24 hours. This drop doesn’t come as a surprise in the market as Ripple’s native crypto is down by more than 2% in the 7 days and 0.5% down on the year to data (YTD) basis. Avalanche to take over? 
XRP is trading at an average price of $0.61, at the press time. Its 24 hour trading volume is horribly down by 30% to stand at $1.68 billion. This suggests that traders are not taking much interest in the token led by its poor performance. The token is still down by 84% from its ATH of $3.84 recorded on January 4, 2018. 
The major reason behind XRP’s such performance is Ripple’s long running legal trouble with the US Securities and Exchange Commission (SEC). The defendant bagged a partial victory against the commission and it gave the token much needed boost at that time. But since then, it has been on a downward road. 
Avalanche, on the other hand, is riding high on bullish sentiments. AVAX price jumped by around 15% in the last 24 hours, while, it is already up by 36% over the last 30 days. It is trading at an average price of $64.01, at the press time. With a market cap of $24.12 billion, AVAX is set to surpass Cardano (ADA) first.

Will AVAX be next to flip XRP? the gap is closing in

Todayq News

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