XRP Secures Third Spot in Liquidity Ranking, Beats SOL, BNB, DOGE

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XRP has managed to secure the third position in liquidity rankings, beating out formidable competitors like Solana (SOL), Binance Coin (BNB), and Dogecoin (DOGE). 

XRP Secure 3rd Position 

Kaiko, a top-notch crypto market intelligence platform, recently released its report on crypto market liquidity. In this latest update, XRP stood firm as the third most liquid asset, following closely behind the leaders Bitcoin (BTC) and Ethereum (ETH).

Meanwhile, the report was based on the performance of key metrics such as 0.1% liquidity depth, 1% liquidity depth, exchange points, spread points, and volume points. However, Bitcoin maintained its dominance in the previous quarter, earning a perfect score of 50 points. 

Following closely, Ethereum secured 49 points across various parameters. Notably, XRP achieved a total of 48, securing its position among the top three digital assets.

While Solana overtook Litecoin (LTC) to secure the fifth rank. In addition, Chainlink (LINK), Polygon (MATIC), and Avalanche (AVAX) broke into the top 10. AVAX saw the biggest spike, jumping 14 places up.

Liquidity vs. Market Cap

In a detailed report, Kaiko highlighted that Bitcoin (BTC) and Ethereum (ETH) maintained similar rankings in both liquidity and market cap rankings. However, XRP stood out by securing the third position in liquidity, surpassing its market cap ranking, which was fifth. 

Conversely, Solana faced a different scenario, as its liquidity ranking (fifth) lagged behind its market cap ranking (fourth).

Solana Trading Volume Surge

Looking at trading volumes, Solana performed exceptionally well, skyrocketing from $20 billion in Q3 2023 to an impressive $116 billion in Q4 2023. This surge allowed Solana to surpass XRP in trading volume, as XRP’s trade volume declined from $70 billion in Q3 2023 to $68 billion in Q4 2023.

As the crypto landscape continues to evolve, XRP’s story in Q4 2023 serves as a testament to the unpredictable nature of the market