XRP and Shiba Inu Lead Grayscale Top Gainers List

Leading crypto asset manager Grayscale Investments spotlights the remarkable performance of Shiba Inu (SHIB) and XRP (XRP) over the past week.

XRP and Shiba Inu were the two best-performing cryptocurrencies on Grayscales weekly snapshot, which highlights the top 10 cryptocurrencies based on their returns in the past week between July 7 and July 17, 2024.

XRP Ranks as Best-Performing Crypto

XRP topped the ranking after leading the crypto rally with a weekly surge of 43.7%. The data accompanying the tweet shows that XRPs weekly rally took its year-to-date (YTD) returns to 2.8% while its market cap stood at $34 billion.

XRP‘s tremendous rally came as its community members celebrated the first anniversary of Judge Analisa Torres’ decision, which ultimately declared the coin a non-security.

The celebration elicited several rumors, suggesting that the SEC and Ripple might settle the multi-year legal tussle soon. This optimism caused the price of XRP to surge tremendously over the past week.

However, XRPs weekly gain has declined to 16.97% at press time. The seventh-largest cryptocurrency by market cap is currently trading at $0.5931, reflecting a daily surge of 6.35%.

Shiba Inu Performance in Grayscale Snapshot

Furthermore, the snapshot data showed that Shiba Inu was the second best-performing token, with a weekly gain of 13.6%. Shiba Inus gain was fueled by the latest relief rally witnessed across the broader crypto market over the past week. The data also showed that SHIB boasts a year-to-date gain of 80.2%, with a market cap of $11.3 billion as of July 17.

On July 18, Shiba Inu experienced a significant downturn as hackers dumped over 5.4 trillion SHIB, which were stolen from WazirX, into the market. As a result, SHIBs price dipped nearly 10% in 24 hours at the time. Interestingly, the token has recovered most of its losses, as it currently changes hands at $0.00001789, reflecting a 2.24% daily growth.

Performance of Other Cryptos

Meanwhile, the other crypto assets in the top 10 rankings with substantial weekly positive gains include Dogecoin (DOGE), Cardano (ADA), Bitcoin (BTC), Solana (SOL), Ethereum (ETH), Binance Coin (BNB), and Tron (TRX).

These assets witnessed a 1-week return of 13.3%, 12.4%, 11.2%, 9.7%, 9.5%, 8.6%, and 1.7%, respectively. However, Toncoin (TON) was the only asset that made it to the list with a negative weekly return of -1.7%.