The remittance-focused crypto currency XRP, backed by Ripple, continues to face challenges in the market chart. This is a move dependent on no other factor than the SEC’s lawsuit against Ripple for selling a security to the public.
Polkadot (DOT) pushed XRP to the fifth position of the market rank after a massive rise in the past few days. Some crypto exchanges have added salt to the detriment of Ripple by removing XRP from the list of currencies that they can trade on their platforms.
While digital currency enthusiasts have resolutely urged the SEC to withdraw its claim that XRP is a security, there is no significant sign that XRP will overcome the problem anytime soon.
In the midst of the unsettling period, crypto trader named Michael van de Pope said that more cryptocurrencies will catch XRP on the market chart.
Currently, XRP is in fifth place after Polkadot took fourth place
Trader Michael van de Pope said it is only a matter of time before we see three other cryptocurrencies on the table surpassing XRP.
The full-time trader suggested that after Polkadot, companies like Cardano, Chainlink, and Litecoin will also surpass XRP in the ranking. If this happens, XRP will be the 8th largest cryptocurrency by market cap.
Given Cardano’s trend over the past few months, you might want to believe that Cardano has the potential to overtake XRP in the market ranking, especially after the launch of Shelley’s mainnet.
In the last 30, Cardano achieved the second highest earnings among the top 10 cryptocurrencies after Polkadot, with a price increase of over 130% in a month.
What to Expect From Bitcoin In The Coming Days – Michael Van De Pope
In another statement, trader Michael van de Pope published his views on Bitcoin over the next few days as the leading crypto asset has been maintaining a balance of over $ 32,000 since the past few days.
The trader said that the cryptocurrency will continue to consolidate for the next few periods before seeing a new trend from Bitcoin.
He explained that it is too early to predict the next direction Bitcoin will face after this consolidation. Michael stated that the cryptocurrency still maintains a level of support and it is quite difficult to make any predictions for the future.
However, the trader said that a trend of $ 39,000 to $ 40,000 could be seen again considering the falling wedge pattern.
He added that Bitcoin will need to stay above the $ 36,000 to $ 36,500 level before waiting for another major uptrend, and the current primary point of the cryptocurrency chart is indicating further consolidation.