However, according to published and verified XRP metrics on the official Ripple website, there is no competition. Ripple states that the market capitalization for XRP is $40.99 billion.
Image Source: https://ripple.com/xrp/market-performance/
Varying Market Cap Metrics
This is very interesting, because the statistics on CoinMarketCap show XRP’s market cap at just $17.6 billion. That’s over a $23 billion difference.
As for Ethereum (ETH), CoinMarketCap lists ETH in the #2 spot right behind Bitcoin (BTC), with a market cap of $26.6 billion.
Furthermore, another cryptocurrency metrics and market analytics tracking website with varying metrics from that of CoinMarketCap is OnChainFX.com. This site puts XRP’s market cap at $41.3 billion and Ethereum’s at $30.7 billion.
As previously reported by IIB, CoinMarketCap has taken serious steps to offer better data and tools to their users, and admitted that their statistics are less than perfect. This move to provide better data came after digital asset management firm, BitWise filed a report revealing that 95% of reported trade volume is fake.
All in all, it appears that something still isn’t right, as the market cap for XRP appears to be grossly undervalued at CoinMarketCap in comparison to other coin tracking websites and the official Ripple website.
Why is Ripple’s XRP market cap lower on CMC than other websites and Ripple’s official site? Which market cap is the real market cap? Let us know what you think in the comment section below.