XRP has taken a major hit in its Hong Kong Digital Asset Consortium (HKVAC) has introduced the official delisting of the token, from the highest 5 international giant cryptocurrency index.
HKVAC Delists XRP And Provides Solana
The Hong Kong Digital Asset Score Company (HKVAC) has made the choice to take away XRP from its earlier rating within the prime 5 largest cryptocurrency index checklist. This adjustment mirrors the altcoin’s decline from the top-performing cryptocurrencies with the most important market capitalization globally.
Including to the setback, HKVAC has disclosed it will likely be changing XRP’s place with Solana (SOL). The Hong Kong-based consortium has said a reorganization of its index efficient by January 19, 2024.
Earlier in December 2023, Solana overtook XRP to turn out to be the fifth-largest cryptocurrency globally. Regardless of gaining regulatory readability in its ongoing case with america Securities and Trade Fee (SEC), the cryptocurrency has nonetheless been unable to expertise a major value enhance.
Many buyers have expressed discontent concerning the slow growth of XRP. Consequently, group members have offered varied options together with burning holdings in escrow to assist enhance the worth of the cryptocurrency.
Token value trending above $0.57 | Supply: XRPUSD on Tradingview.com
Together with XRP, HKVAC has disclosed different cryptocurrencies it will likely be delisting from its index together with Mantle (MNT), Lido DAO (LDO), Maker (MKR), Quant (QNT), and Arbitrium (ARB).
The digital asset score company has additionally revealed new entrants in its cryptocurrency index following its reorganization this month. These embrace standard cryptocurrencies like NEAR Protocol (NEAR), Web Pc (ICP), Immutable X (IMX), Optimism (OP), and Injective (IN). Moreover, Avalanche (AVAX) can be changed with Tron (TRX) within the prime ten World Giant-Cap Crypto Index.
Solana Continues To Outperform
Well-liked cryptocurrency, Solana (SOL), identified for its excessive throughput and low transaction prices, has been experiencing a large surge in recognition over the latest months.
Earlier than the approval of Spot Bitcoin ETFs in 2023, the cryptocurrency surged as excessive as $125, transferring from $8 to $125 in a single calendar yr. The cryptocurrency has regularly outperformed XRP by way of value will increase, efficiently profiting from the bullish sentiment out there.
XRP however has been unable to succeed in the $1 value mark since 2023. The cryptocurrency is presently buying and selling at a value of $0.5745, reflecting a each day lower of three.67% in response to CoinMarketCap.
Though the value of the altcoin has remained stagnant for months, many buyers consider that particular components together with a Ripple Preliminary Public Providing (IPO), and a possible XRP ETF might enhance the value of the cryptocurrency to higher ranges.
Featured picture from Medium, chart from Tradingview.com
