Ripple (XRP) Scores Third Place in This Important List for Q4 2023: Details
TL;DR
- XRP ranked highly in terms of liquidity in Q4 2023, outpacing other major cryptocurrencies.
- While Ripple’s coin exceeded certain benchmarks in 2023, it has experienced a decline in value recently.
- Some analysts have positive expectations for the asset’s future performance, predicting significant price increases.
According to Kaiko, Ripple’s XRP ranked as the top 3 cryptocurrencies in terms of liquidity in Q4, 2023, surpassing the largest meme coin by market capitalization – Dogecoin (DOGE) – and Solana (SOL). The only two digital assets ahead were Bitcoin (BTC) and Ether (ETH).
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Kaiko’s quarterly #crypto asset liquidity ranking is now live! Q4 2023’s top 5 assets were:
1. #BTC
2. #ETH
3. #XRP
4. #DOGE
5. #SOL https://t.co/O00MAPnyGM— Kaiko (@KaikoData) January 15, 2024
XRP witnessed many developments in the last quarter of 2023, with its price exceeding the $0.70 mark in November.
It also became the top-traded cryptocurrency on Uphold for the week of November 18 – November 25, when almost 75% of the exchange’s users purchased some amount of XRP.
At one point in 2023, the token turned into the most traded altcoin on US-based cryptocurrency exchanges, with SOL, LTC, and DOGE trailing behind.
Recall that multiple trading venues headquartered in the States, including Coinbase and Kraken, re-listed XRP following Ripple’s first major (yet partial) court victory against the Securities and Exchange Commission (SEC) last summer.
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Despite its impressive performance in 2023, the asset’s price has been on a downfall lately, currently trading at around $0.57 (per CoinGecko’s data).
However, multiple analysts, such as Crypto Rover and Dark Defender, believe XRP’s glory days are yet to come. The former expects a “massive breakout” in the next eight weeks, while the latter envisioned a bull run that could take the asset’s value to as high as $22.50 before the end of 2024.
If you want to take a look at other XRP price predictions for 2024, feel free to check out our most recent video here:
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