XRP has taken a big hit in its Hong Kong Digital Asset Consortium (HKVAC) has introduced the official delisting of the token, from the highest 5 world 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 prime 5 largest cryptocurrency index listing. 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 is going to be changing XRP’s place with Solana (SOL). The Hong Kong-based consortium has acknowledged 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 the USA Securities and Change Fee (SEC), the cryptocurrency has nonetheless been unable to expertise a big worth improve.
Many buyers have expressed discontent concerning the gradual progress of XRP. In consequence, neighborhood members have offered varied options together with burning holdings in escrow to assist enhance the worth of the cryptocurrency.
Token worth trending above $0.57 | Supply: XRPUSD on Tradingview.com
Together with XRP, HKVAC has disclosed different cryptocurrencies it is going to be delisting from its index together with Mantle (MNT), Lido DAO (LDO), Maker (MKR), Quant (QNT), and Arbitrium (ARB).
The digital asset ranking company has additionally revealed new entrants in its cryptocurrency index following its reorganization this month. These embody widespread cryptocurrencies like NEAR Protocol (NEAR), Web Pc (ICP), Immutable X (IMX), Optimism (OP), and Injective (IN). Moreover, Avalanche (AVAX) shall be changed with Tron (TRX) within the prime ten International Giant-Cap Crypto Index.
Solana Continues To Outperform
Standard cryptocurrency, Solana (SOL), identified for its excessive throughput and low transaction prices, has been experiencing an enormous 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 frequently outperformed XRP by way of worth will increase, efficiently making the most of the bullish sentiment available in the market.
XRP however has been unable to succeed in the $1 worth mark since 2023. The cryptocurrency is at the moment buying and selling at a worth of $0.5745, reflecting a every day lower of three.67% in keeping with CoinMarketCap.
Though the value of the altcoin has remained stagnant for months, many buyers imagine that particular elements 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