XRP has lost its place among the top five altcoins as the major altcoins begin the rally. The crypto money lost the 7th place in the list of the largest cryptocurrencies in terms of market value to Binance Coin (BNB) on February 17, according to CoinMarketCap data. Binance Coin did not slow down in a short time and rose to the 4th place.
XRP, which showed a strong performance on February 14, rose to $ 0.6324 and ranked 4th on the list, could not hold this position for a long time. As Polkadot (DOT) and Cardano (ADA) started the rally, XRP fell to 6th place again on February 15th, with Binance Coin’s breathtaking 48% rise on February 17, and it fell to 7th place.
XRP maintains the 7th place as of the time of the news release. The market value of XRP, which has gained 2.50 percent in the last 24 hours and is traded at $ 0.5461, was measured as $ 24.75 billion. The market value of BNB, which rose to $ 192 by gaining 48 percent in the last 24 hours, also rose to $ 29.35 billion, and the crypto money rose rapidly to the 4th place. As of the time of the news broadcast, ADA ranks 5th and DOT is ranked 6th.
XRP began to decline rapidly after the U.S. Securities and Exchange Commission announced that it would sue Ripple and its managers for violating securities laws, dropping from $ 0.57 to $ 0.1947. Following the news of the lawsuit, major exchanges such as Kraken, Coinbase and OKCoin suspended XRP transactions, making the situation worse for the cryptocurrency.
A pre-hearing of the Ripple and SEC case is scheduled for February 22nd. In the meeting held by the lawyers of the parties, a joint decision could not be reached, so a pre-trial agreement is not expected.