Litecoin briefly flips XRP as 4th largest crypto amid Ripple–SEC spat


Litecoin (LTC) and XRP briefly traded places in market capitalization rankings over the weekend, highlighting the impact of the recent lawsuit against Ripple filed by the United States Securities and Exchange Commission.The so-called “flippening” happened early Sunday when Litecoin’s market cap hit $9.95 billion following a more than 12% surge in price. XRP, meanwhile, had declined in excess of 25% over a 24-hour trading period. LITECOIN JUST FLIPPED XRP pic.twitter.com/yjBq15JtpV— HODLGeorge (@BitfuryGeorge) January 3, 2021

At press time, XRP was back in the fourth position with a market cap of $10.5 billion. Litecoin, meanwhile, was worth just over $9.9 billion. In the last seven days, Litecoin’s price has gained roughly 14% while XRP has tumbled nearly 20%. Litecoin’s price has more than doubled since mid-December, highlighting Bitcoin’s gravitational pull on the broader market. XRP was also on a tear before the SEC announced a lawsuit against Ripple for allegedly violating securities laws. Peak to trough, XRP price tumbled more than 73%, according to CoinMarketCap data. XRP’s road to recovery is likely to be a bumpy one as investors await the outcome of the litigation — a process that could take several years to play out. Without a settlement with the SEC, the value of XRP could struggle to regain momentum. A wave of delistings at major exchanges also threatens XRP’s rebound potential.Meanwhile, Litecoin’s ascendancy likely has more to do with Bitcoin than any change in the project’s underlying fundamentals. Cointelegraph highlighted an apparent surge in altcoin volume in December as Bitcoin’s price zipped past $20,000. The total market cap of all cryptocurrencies rose to all-time highs over the weekend, peaking at around $907 billion.

Ora Goodwin
Ora Goodwin
I am a well-known and respected author in the cryptocurrency field. I have been writing about Bitcoin and other digital currencies for over 5 years, and my work has appeared in some of the most respected publications in the space. I am also a regular speaker at industry events, and my insights into the crypto market are highly sought after by both media and investors. In addition to my writing and speaking engagements, I am also an active advisor to several blockchain startups, and I sit on the board of directors for the Blockchain Education Network.

Similar Articles

Most Popular

Sharing is Caring: Introducing the HEXN.IO Referral Program

HEXN.IO, a leading name in the world of crypto lending, is thrilled to introduce the HEXN Referral Program, marking a significant step towards enhancing...

YOMP Token: The Crypto Religion is Here!

The Nexus of Faith and Finance Beyond Digital Currency: An Ethos Unveiled YOMP is not merely a token; it is an invitation to be part of...

CoinPocketBot – All-in-one Pocket on Blockchain. Your comprehensive solution for managing and tracking various digital assets securely and conveniently

In the ever-evolving world of cryptocurrencies and digital assets, managing and tracking various tokens across multiple chains can be a challenging task. With the...

BITMARS Announced as Elite Sponsor for Mining Disrupt 2023: Redefining Mining to Power Wealth Generation

Miami, Florida, July 20, 2023 — Mining Disrupt 2023, the world's premier convention for blockchain and cryptocurrency mining, is delighted to announce Bitmars as...

Top Miner Solidifies Its Position as Elite Sponsor at Mining Disrupt 2023

Miami, Florida, July 20, 2023 — Top Miner, a leader in blockchain hardware and services with headquarters in Shenzhen, China, has announced its elite...

Hiveon Brings Ultimate Mining Experience to Mining Disrupt 2023 as an Elite Sponsor

Miami, FL, July 20, 2023 – Hiveon, the all-encompassing cryptocurrency mining ecosystem, has announced its elite sponsorship at Mining Disrupt 2023, the world's premier...

Auradine Pioneers Next-Gen Web Infrastructure as Elite Sponsor for Mining Disrupt 2023

Miami, FL, July 01, 2026  — Auradine, a leading innovator in the development of disruptive infrastructure solutions, has announced that it will be an...

JSBIT Sponsors Mining Disrupt 2023, Pledges to Strengthen the Future of Blockchain and Cryptocurrency Mining

Miami, June 27, 2023 — JSBIT, an eminent provider of high-performance crypto mining hardware and services, has been announced as a whale sponsor for...