XRP Surpasses SOL, BNB, and DOGE, Securing Third Place in Liquidity Ranking

XRP has achieved an impressive feat by securing the third position in liquidity rankings, surpassing tough competitors like Solana (SOL), Binance Coin (BNB), and Dogecoin (DOGE).

A renowned crypto market intelligence platform, Kaiko, recently released its report on crypto market liquidity. According to the report, XRP stood firm as the third most liquid asset, closely trailing behind Bitcoin (BTC) and Ethereum (ETH).

The report analyzed key metrics such as 0.1% liquidity depth, 1% liquidity depth, exchange points, spread points, and volume points. In the previous quarter, Bitcoin maintained its dominance, receiving a perfect score of 50 points. Ethereum closely followed with 49 points. Notably, XRP achieved a total of 48 points, securing its place among the top three digital assets.

Solana outperformed Litecoin (LTC) to secure the fifth rank, while Chainlink (LINK), Polygon (MATIC), and Avalanche (AVAX) made their way into the top 10. AVAX experienced the most significant spike, jumping 14 places.

Kaiko’s report emphasized the relationship between liquidity and market cap rankings. Bitcoin and Ethereum maintained consistent rankings in both categories. However, XRP stood out by securing the third position in liquidity, surpassing its market cap ranking of fifth. On the other hand, Solana faced a different scenario, with its liquidity ranking lagging behind its market cap ranking.

Solana demonstrated exceptional performance in trading volumes, soaring from $20 billion in Q3 2023 to an impressive $116 billion in Q4 2023. This surge allowed Solana to surpass XRP in trading volume, as XRP’s trade volume declined from $70 billion to $68 billion during the same period.

As the crypto landscape continues to evolve, XRP’s success story in Q4 2023 serves as a testament to the unpredictable nature of the market.