Since it did so, the crypto has continued to hold its price in the $0.6 zonerecently recorded a shift in its market cap position, ascending further within the top ten rankings. In doing so, it overtook popular market stablecoin – USDC. However, despite its latest price performance, nearly 20% of the altcoin’s supply remains unprofitable.concluded its trading session on 9 April with more northbound price movement.
Owing to how well XRP did on the price front, there was a change in its market capitalization rankings too. XRP has now overtaken USDC as the sixth-largest cryptocurrency in the market.30-day Market Value to Realized Value ratio revealed that despite the recent price increase, holders are still experiencing losses. In fact, the MVRV chart depicts a decline starting from the end of March, with the value standing at around -7.4% at the time of this writing.
This negative percentage suggests that holders who acquired XRP during this period are currently holding at a loss. Additionally, the recent market capitalization shift has not translated into favorable outcomes for traders falling within this wallet category.Another significant metric that has not positively reflected the recent price hike is the supply ofin profit. According to AMBCrypto’s assessment, there has been a sustained decline in the XRP supply in profit.
However, a closer analysis of its 30-day Market Value to Realized Value ratio also revealed a potential for a future price hike. Trending below zero at press time, a slight upward trend in the MVRV would likely positively impact market capitalization.The implication is that in the long term, XRP stands a better chance of surpassing USDC and sustaining that trend.
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