Boutique Media & consulting group
BTC$103624
ETH$2301
BNB$632
XRP$2.33
Recently, USDT has surpassed XRP and fetched the position of the 3rd largest virtual currency by market cap. The main reason behind the aforementioned development is allegedly the failure of Ripple to gain noteworthy acceptance amongst retail investors.
It is to be noted that the market cap of XRP has dropped from a high of approximately one hundred and thirty billion USD in January 2018 to the present market cap of below nine billion USD. Interestingly, there was a time when XRP was competing with Ethereum for the number 2 spot. Nevertheless, at the time of reporting, the joint market capitalization of USDT and XRP is still over six billion USD behind Ethereum, as per coinmarketcap.
As per some critics, a dearth of traction with retail investors is the main reason behind the downfall of XRP. Moreover, at press time, the daily trading volume of USDT is over twenty two times as compared to that of XRP.
Nonetheless, this does not signify that the competition for 3rd place is concluded. XRP could easily beat the stablecoin with a reasonable bull run. This is because, USDT cannot move up or down by considerable percentage points.
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