While Bitcoin (BTC) and other major altcoins have suffered from another significant sell-off over the last week, XRP has notably outperformed the rest of the market and is only down around 14% over the same period.
Given that other top-10 coins have fallen anywhere from 20-50% over the last 7 days, XRP has made a notable push upwards in terms of its percentage of the total cryptocurrency market capitalization.
XRP’s market cap now stands at $17.8 billion, which makes up roughly 12.3% of the total market. This percentage has jumped more than 2x since September and is rapidly approaching previous all-time highs that were made at the peak of the December-January bull run.
XRP’s relative outperformance may be the result of recent positivity around the project. Just last week, Ripple CEO Brad Garlinghouse revealed that the company has no plans to partner with the SWIFT banking network but instead plans to replace it. Additionally, last Wednesday, Malaysian lending giant CIMB joined Ripple’s cross-border payment network.
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Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.