Is Ripple's XRP Eyeing Top 3 Spot After Overtaking BUSD In Market Capitalization?

In an interesting development, data obtained from crypto market tracker CoinMarketCap, shows that the XRP token from Ripple has surpassed the giant Binance's BUSD stablecoin; to clinch the sixth spot in terms of market capitalization among the 22,000 odd cryptocurrencies. Ripple's XRP Vs.

Timeline of Binance-usd, Xrp

Some countries are looking to jump on the crypto bandwagon and are mulling the creation of national stablecoins, despite occasional setbacks, such as the bankruptcies and arrests among some of its previously prominent players.

The United States Securities and Exchange Commission has requested the "Hinman Speech" materials be sealed, claiming they have no bearing on the court's summary judgment ruling. On Dec. 22, the SEC submitted a motion to seal the summary judgment document, requesting that several pieces of information and documents, including the Hinman Speech materials, be sealed.

XRP News: XRP, Ripple's native token price has dropped by over 14% in the last 30 days. However, XRP price is on a constant decline due to increased selling pressure in the market.

The crypto community is still awaiting the ruling in the Ripple and Securities Exchange Commission (SEC) case after initial rumors indicated the matter might be settled back on December 15.

XRP News: David Schwartz, Ripple CTO and Craig Wright, self proclaimed Bitcoin creator got into a war of words over BTC adoption by institutional investors. However, this heated conversation took a wrong turn toward the XRP token and its utility.

The 2022-end is approaching very fast, meanwhile, the tokens maintain their consolidated trend as Bitcoin prices fail to slice through the crucial $17000 levels. The fine accumulation which has slaughtered the volatility also has prevented the traders to induce significant volume, much required to rise above the bearish captivity.

A heated Twitter debate between Australian computer scientist Craig Wright and David Schwartz, Ripple's chief technology officer, has caught the attention of cryptocurrency followers

Given the market slowdown, XRP price prediction remains bearish, as it has broken through a symmetrical support level at $0.3735. However, XRP is now trading just below the double-bottom support becoming a resistance level of $0.3565. Will XRP break the $3 mark? Let's find out! 

The XRP price is trapped between a descending trendline and $0.316 support. As both these levels are bound to converge at a single point, the prices should eventually break out from either of the mentioned levels.

XRP News: XRP, Ripple's native token price on a constant decline despite receiving positive updates from the crucial legal battle against the US SEC. However, Crypto whales are utilizing this XRP price dip opportunity to move more tokens.