- Terra’s native token LUNA and the altcoin XRP are engrossed in the battle for ranking sixth by market capitalization.
- There has been a significant spike in capital inflow in the Terra network.
- Analysts predict that Ripple’s upside is capped at $0.80 after a bearish Ichimoku breakout.
Terra foundation’s native token has grown significantly through market demand and supply. LUNA’s market capitalization witnessed a growth spurt, pushing it closer to XRP.
LUNA could outperform XRP in market capitalization
In the Terra community, native token LUNA’s performance is considered outstanding. LUNA’s market capitalization exceeded that of XRP briefly on March 10, 2022. Over the past month, there has been a significant inflow into the Terra ecosystem.
Despite the crypto market bloodshed, LUNA and XRP made a comeback, neck and neck, in their capitalization. On Thursday morning, LUNA briefly replaced XRP as the sixth-largest cryptocurrency by market capitalization.
The Terra ecosystem has exploded, and there is a significant spike in the adoption of stablecoins pegged to the USD. The substantial capital inflow in Terra’s UST significantly impacted the LUNA price rally.
The SEC’s case against payment giant Ripple had a negative impact on the altcoin’s price, as the firm is the largest public holder of XRP. However, XRP made a massive recovery, posting 5% gains over the past two weeks. The recovery pushed the altcoin's market capitalization higher. Similarly, Terra's LUNA witnessed growth, driving it higher, close to Ripple's market capitalization.
Analysts have evaluated the Ripple price trend and predicted that the altcoin’s upside is capped at $0.80. Investors are awaiting Judge Sarah Netburn’s ruling on the SEC vs. Ripple case; a positive outcome of the lawsuit could fuel the altcoin’s price rally.
FXStreet analysts believe Ripple price could plunge as the altcoin confirmed a bearish Ichimoku breakout over the weekend, on March 6, 2022. Analysts are therefore bearish on the
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Prisma price tanks 25% after nearly $9 million exploit
Prisma Finance (PRISMA) is being exploited, and the attacker has so far pulled $9 million in Ethereum from the borrowing protocol. Prisma asked vault owners to take the necessary steps to protect funds from the ongoing attack in an official tweet on X.
Meme coins gain traction after SEC’s partial win in Coinbase lawsuit: DOGE, SHIB, BRETT, POPCAT, BODEN
US SEC pocketed a partial win in its lawsuit against Coinbase, ushering a correction in crypto prices on Thursday. Despite the broad pullback, prices of meme coins like Dogecoin, Shiba Inu and Solana-based BRETT, POPCAT and BODEN increased.
Ondo moves $95 million worth of OUSG assets to BUIDL as tokenized fund attracts $245 million since debut
Ondo Finance (ONDO) announced on Wednesday that it's shifting about $95 million worth of its OUSG's underlying assets to the BlackRock USD Institutional Digital Liquidity Fund (BUIDL).
XRP price stuck below $0.65 resistance, Ripple lawsuit could suffer from Coinbase defeat
XRP price falls slightly to $0.61 on Thursday after its landmark programmatic sales ruling in July, which gave Ripple a partial victory against the US SEC, failed to reverberate in a similar legal battle between the regulator and crypto exchange Coinbase.
Bitcoin: BTC may have recovered, but is it out of the woods?
Bitcoin’s (BTC) upward momentum has shown a significant decline for the past two weeks or so. This development led to a bearish signal on the weekly and an uncertain outlook on the monthly.