XRP or Ripple coin prices might have suffered some volatility due to the SEC lawsuit claiming that the company and its two executives conducted $1.3 billion unregistered securities offerings, things remain positive for the payment processor crypto.
According to CoinMarketCap, Ripple (XRP) is the 7th largest cryptocurrency. It has a $43.77 billion market cap. It's right up there with the likes of Bitcoin (BTC) and Ethereum (ETH). In regards to the xrp price prediction for 2022, keep on reading to find out.
The Ups and Downs of Ripple or XRP Coin
• Used to Be the Third Largest Crypto Coin: XRP used to be the third largest crypto behind Bitcoin an Ethereum for a significant period of time before losing ground. It's still currently the seventh biggest crypto in 2022 even in the face of ongoing SEC litigation that threatens the existence of its RippleNet system and Ripple Labs itself.
• Increased Adoption and Greater Market Awareness: People thought the sudden increase of Bitcoin value back in 2017 was as good as it will ever get for Bitcoin and crypto. The volatile drops of BTC because of Elon Musk's tweets of a breakup meme in favor of Dogecoin led to an all-time low value in January.
• The Dangers of Inherent Volatility: XRP, ETH, and other alt-coins suffered along Bitcoin's value losses from the whims of the second richest or richest man on earth (with Jeff Bezos switching spots with him multiple times). Also, volatility also made XRP's future value unknown due to that pesky SEC lawsuit.
• Volatility Ultimately Rewarded: XRP, ETH, and other alt-coins then got a resurgence late November, with them eventually reaching all-time highs from the year-long lows since January after Mark Zuckerberg's Facebook changed its name to Meta and proposed that virtual reality or the Metaverse is the future of the Internet or Web 3.0.
• An Increased Market Cap: The year-low $736 billion market cap of January 2021 turned into a year-high $3,009 billion in November 2021. Their values were buoyed by Bitcoin dominance at reaching new all-time high value, the greater market awareness of NFTs, and increased adoption of different crypto overall.
• BTC Dominance: BTC dominated back in January 2021 at 73.63% of the market. However, prior to its reaching its all-time high value, it got a year-low market share of $39.56%. The rising awareness of crypto in general has led to other cryptocurrencies like XRP gaining market share when push comes to shove.
• When Bitcoin Falls: Two things happen when BTC falls. One, the rest of the crypto market follows as though Bitcoin serves as their dollar standard. Two, the top cryptos might take its place or rise up to the occasion as more and more people adopt crypto and have better awareness of other blockchain-tye tech like non-fungible tokens (NFTs)
• XRP and BTC Demand: Currently, the total market cap for all crypto is at $2,380 billion from its original year-high of $3,009 billion that was buoyed by Bitcoin's all-time high value. XRP might've fallen from third to seventh but it remains among the fastest coins around in terms of transaction speed. It's a stable coin that remains a big player in the crypto scene.