Litecoin (LTC) and XRP traded briefly available in the market cap rankings over the weekend, highlighting the affect of the current lawsuit in opposition to Ripple filed by the U.S. Securities and Trade Fee.
The so-called "flippening" occurred early Sunday when Litecoin's market cap hit $ 9.95 billion after a value improve of greater than 12%. XRP, in the meantime, was down greater than 25% over a 24-hour buying and selling interval.
LITECOIN JUST REVERSE XRP pic.twitter.com/yjBq15JtpV
– HODLGeorge (@BitfuryGeorge) January 3, 2021
At press time, XRP was again in fourth place with a market capitalization of $ 10.5 billion. Litecoin, in the meantime, was price simply over $ 9.9 billion. Previously seven days, Litecoin's value is up about 14% whereas XRP is down practically 20%.
Litecoin's value has greater than doubled since mid-December, highlighting Bitcoin's attraction to the broader market. XRP was additionally on a tear earlier than the SEC announced a lawsuit against Ripple for alleged violation of securities legal guidelines. Peak to all-time low, XRP value plunged greater than 73%, based on information from CoinMarketCap.
XRP & # 39; s Highway to Restoration is probably a bumpy one whereas traders await the end result of the lawsuit – a course of that might take a number of years. With no settlement with the SEC, the worth of XRP may battle to get going once more. A wave of delisting on main exchanges additionally threatens XRP's restoration potential.
In the meantime, Litecoin's preponderance most likely has extra to do with Bitcoin than any change within the underlying fundamentals of the undertaking. Cointelegraph emphasised one apparent rise in altcoin volume in December whereas Bitcoin's value dipped previous $ 20,000.
The full market cap of all cryptocurrencies soared to document highs over the weekend, peaking at round $ 907 billion.