Cardano Now At Greater Risk of Falling off the Top 10 Than XRP

Cardano (ADA) now faces a heightened risk of dropping out of the top ten ranking among prominent tokens, while XRP maintains its position despite sustained criticism.

Pro-XRP attorney Bill Morgan recently brought attention to this situation in a post on X. Morgan presented a screenshot of the top-ranking coins, with Toncoin (TON), which newly entered the roster, displacing Cardano.

In particular, Toncoin now commands a market cap of $23.48 billion, making it the ninth most valuable crypto asset. This valuation is over $3 billion ahead of Cardano, now at tenth position.

Toncoin cracked the top ten this month following a sustained 224% gain over the last sixty days. As of early February, TON traded around $2 with a valuation of $7.1 billion, ranking at number 15. Two months later, it has displaced top contenders like Avalanche (AVAX), Chainlink (link), and ADA.

Reacting to this record, Morgan pointed out that many individuals in the crypto community thought XRP would fall out of the top ten due to its lackluster performances over the last six months when the bull market commenced.

He pointed out that instead of XRP, ADA is at greater risk of losing its position as it hangs at number ten.

TON has burst into the top 10 and flipped ADA for 9th position. So many people thought #XRP would fall out of top 10 but ADA is more at risk of that fate as it is not that far ahead of AVAX for 10th spot. pic.twitter.com/pq8K63hJgw

— bill morgan (@Belisarius2020) April 8, 2024

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Cardano Falling out of Top Ten

Notably, the recent bearish market trend has impacted Cardano to the extent that it has invalidated all the gains of the past three months. In particular, data suggests that with ADA at $0.5659, the asset has only seen a 2.37% gain in the last 90 days.

This contrasts ADA’s performance earlier this year and in late 2023, where it was among the standout performers. Now, trailing Cardano is AVAX, an explosive performer until the recent market downturn. Interestingly, AVAX will knock out ADA from the top ten should it merely rally by 16% to $54.

XRP Holds Strong

Meanwhile, amid the bearish market, XRP remains strong as the sixth most valuable crypto with a valuation of $33 billion. XRP descended to the sixth position last December after Solana knocked it off. However, it has continued to defend this lowly spot.