Polkadot returns XRP to become fourth-largest crypto after 100% price spikes in less than a week

Dot, the native token of the Polkadot network, reversed XRP to become the fourth token after its price rose by more than 40% in just 24 hours. As of January 11, the token has now risen by over 100% to set a new all-time high (ATH) of $ 18.06 on January 16.

With its market cap currently standing at over $ 16.8 billion, the Dot token now exceeds that of XRP by over $ 4 billion. Yet prior to the December 23, 2020 breakout, the Polkadot token had a market cap of just under $ 4.5 billion and an average price of $ 4.70, according to data from Markets.bitcoin.com. However, between that date and January 3, the token climbed more than 100% to close at $ 10.35.

Yet after that initial price spike, the token then briefly stabilized at just under $ 10.35 before dropping to $ 7.61 on January 11. Nonetheless, after this short retreat, the token started another rally which resulted in Dot moving to XRP.

Meanwhile, Dot’s move of XRP from its fourth position comes as the former continues to be written off by trading. Since the start of the write-offs, the XRP token has now gone from the December 17th high of over $ 0.60 to the current price of $ 0.28.

Additionally, in a move that is likely to add more pressure on the token, the Kraken crypto exchange has announced that it will stop trading in the XRP token on January 29. However, this move should only affect American customers.

Do you think the XRP token will reclaim fourth place? Let us know your opinions in the comments section below.

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