XRP Secures Third Spot in Liquidity Ranking, Beats SOL, BNB, DOGE

In a significant development for the crypto market, XRP has claimed the third position in liquidity rankings, surpassing formidable rivals such as Solana (SOL), Binance Coin (BNB), and Dogecoin (DOGE).

What an impressive power move, right? Read on to unpack the data and what it means for XRP’s future, and maybe the entire crypto market. This story might surprise you.

XRP’s Liquidity Success

Kaiko, a leading crypto market intelligence platform, recently unveiled its comprehensive report on crypto market liquidity. According to the findings, XRP has firmly established itself as the third most liquid asset, closely trailing the dominant leaders Bitcoin (BTC) and Ethereum (ETH).

Key Metrics Examined

Examining crucial metrics such as 0.1% liquidity depth, 1% liquidity depth, exchange points, spread points, and volume points, Kaiko’s report highlighted Bitcoin’s continued dominance with a perfect score of 50 points. Following suit, Ethereum secured an impressive 49 points, while XRP earned a noteworthy 48 points, solidifying its place among the top three digital assets.

While Solana overtook Litecoin (LTC) to secure the fifth rank. In addition, Chainlink (LINK), Polygon (MATIC), and Avalanche (AVAX) broke into the top 10. AVAX saw the biggest spike, jumping 14 places up.

Read More: XRP Price Poised For Massive Rally in 8 Weeks – Here’s Why

Understanding XRP’s Market Dynamics

Kaiko’s detailed report brought attention to XRP’s unique position. While Bitcoin and Ethereum maintained consistent rankings in both liquidity and market cap, XRP set itself apart by securing the third position in liquidity, exceeding its fifth-place market cap ranking.

Conversely, Solana presented an interesting scenario, with its liquidity ranking (fifth) trailing behind its market cap ranking (fourth).

Solana’s Trading Volume Surge

Looking at trading volumes, Solana performed exceptionally well, skyrocketing from $20 billion in Q3 2023 to an impressive $116 billion in Q4 2023. This surge allowed Solana to surpass XRP in trading volume, as XRP’s trade volume declined from $70 billion in Q3 2023 to $68 billion in Q4 2023.

Also Read: Solana Breaking Out Of Crucial Levels: Will It Regain $150 This Month?

XRP’s story in Q4 2023 serves as a testament to the unpredictable nature of the market. It’s nearly impossible to predict what might come next! All you need to do is stay updated and continue navigating.

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