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

SolidViolet Announcing Forthcoming Exchange to Address Compliance and Liquidity Issues in DeFi and RWAs

– Dinari today announced the upcoming release of a new compliant exchange, SolidViolet. Teased on stage last week at TokenizeThis, Dinari is setting...

Kommunitas Successfully Completes 31st Token Burn, Eliminating Over 424 Million $KOM Tokens to Strengthen Market Position

Strategic Burn Reinforces Token Scarcity and Highlights Commitment to Enhancing Token Value Through Community Engagement : Leading decentralized crowdfunding ecosystem Kommunitas announces its 31st token...

Use quantitative trading to increase your passive income – earn 1,000+ per day

Passive income is one of the best ways to boost your earnings during this upcoming crypto bull market, allowing you to enhance your portfolio...

Pitch Dojo is Going REMOTE! #Global

Get ready to witness the monthly OPL pitch competitions from anywhere in the world! Press Release / Santa Clara, California , Here at OnePiece Labs,...

Playermon Unveils PvP Battles in Exciting Version 3.0 Launch

Location, May 1, 2024 – Playermon, a leading name in the blockchain gaming landscape, has announced the successful launch of its highly anticipated Player-vs-Player...

Solvent.app Launches Revolutionary AI-Enhanced Bot Network on Solana Blockchain with Ongoing $SOLV Token Presale

April 15, 2024 – – Solvent.app, an innovative blockchain protocol, has officially announced the launch of its AI-enhanced, bot-driven revenue generation system on...