XRP has taken a big hit in its Hong Kong Digital Asset Consortium (HKVAC) has introduced the official delisting of the token, from the highest 5 international massive cryptocurrency index.
HKVAC Delists XRP And Provides Solana
The Hong Kong Digital Asset Score Company (HKVAC) has made the choice to take away XRP from its earlier rating within the high 5 largest cryptocurrency index checklist. This adjustment mirrors the altcoin’s decline from the top-performing cryptocurrencies with the most important market capitalization globally.
Including to the setback, HKVAC has disclosed will probably be changing XRP’s place with Solana (SOL). The Hong Kong-based consortium has said a reorganization of its index efficient by January 19, 2024.
Earlier in December 2023, Solana overtook XRP to grow to be the fifth-largest cryptocurrency globally. Regardless of gaining regulatory readability in its ongoing case with the US Securities and Alternate Fee (SEC), the cryptocurrency has nonetheless been unable to expertise a big worth enhance.
Many traders have expressed discontent concerning the gradual development of XRP. Because of this, group members have introduced varied options together with burning holdings in escrow to assist increase the worth of the cryptocurrency.
Token worth trending above $0.57 | Supply: XRPUSD on Tradingview.com
Together with XRP, HKVAC has disclosed different cryptocurrencies will probably be delisting from its index together with Mantle (MNT), Lido DAO (LDO), Maker (MKR), Quant (QNT), and Arbitrium (ARB).
The digital asset ranking company has additionally revealed new entrants in its cryptocurrency index following its reorganization this month. These embody common cryptocurrencies like NEAR Protocol (NEAR), Web Laptop (ICP), Immutable X (IMX), Optimism (OP), and Injective (IN). Moreover, Avalanche (AVAX) will probably be changed with Tron (TRX) within the high ten World Giant-Cap Crypto Index.
Solana Continues To Outperform
Common cryptocurrency, Solana (SOL), identified for its excessive throughput and low transaction prices, has been experiencing an enormous surge in reputation over the latest months.
Earlier than the approval of Spot Bitcoin ETFs in 2023, the cryptocurrency surged as excessive as $125, transferring from $8 to $125 in a single calendar yr. The cryptocurrency has regularly outperformed XRP by way of worth will increase, efficiently profiting from the bullish sentiment available in the market.
XRP alternatively has been unable to achieve the $1 worth mark since 2023. The cryptocurrency is presently buying and selling at a worth of $0.5745, reflecting a every day lower of three.67% in response to CoinMarketCap.
Though the value of the altcoin has remained stagnant for months, many traders consider that particular components together with a Ripple Preliminary Public Providing (IPO), and a possible XRP ETF might increase the value of the cryptocurrency to larger ranges.
Featured picture from Medium, chart from Tradingview.com
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