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 Ranking Company (HKVAC) has made the choice to take away XRP from its earlier rating within the high 5 largest cryptocurrency index listing. This adjustment mirrors the altcoin’s decline from the top-performing cryptocurrencies with the biggest market capitalization globally.
Including to the setback, HKVAC has disclosed will probably 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 into 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 improve.
Many buyers have expressed discontent in regards to the sluggish progress of XRP. Because of this, neighborhood members have introduced varied options together with burning holdings in escrow to assist increase the worth of the cryptocurrency.
Token value trending above $0.57 | Supply: XRPUSD on Tradingview.com
Together with XRP, HKVAC has disclosed different cryptocurrencies will probably 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 fashionable cryptocurrencies like NEAR Protocol (NEAR), Web Pc (ICP), Immutable X (IMX), Optimism (OP), and Injective (IN). Moreover, Avalanche (AVAX) might be changed with Tron (TRX) within the high ten World Giant-Cap Crypto Index.
Solana Continues To Outperform
Common cryptocurrency, Solana (SOL), identified for its excessive throughput and low transaction prices, has been experiencing an enormous surge in reputation 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 when it comes to value will increase, efficiently making the most of the bullish sentiment available in the market.
XRP then again has been unable to succeed in the $1 value mark since 2023. The cryptocurrency is at present buying and selling at a value of $0.5745, reflecting a day by day lower of three.67% in accordance with CoinMarketCap.
Though the value of the altcoin has remained stagnant for months, many buyers imagine that particular components together with a Ripple Preliminary Public Providing (IPO), and a possible XRP ETF may increase the value of the cryptocurrency to higher ranges.
Featured picture from Medium, chart from Tradingview.com