A Historic Day No. 2: XRP Overtakes ETH and Retreats, Again

- Advertisement -

After skyrocketing by more than 111% this week Ripple’s XRP overtook Ethereum’s Ether and became the second largest cryptocurrency by market capitalization this Friday. Well, for less than a few hours (for now.)

It’s not the first time XRP overtakes Ether – on December 29th 2017, Ripple overtook Ethereum for one day.

At the time of writing (UTC 2:27 PM), XRP was up by more than 60% in the last 24 hours and more than 111% in seven days.

(Click on the image below to get the latest data)

A Historic Day No. 2: XRP Overtakes ETH and Retreats, Again 102

Hovever, XRP was ahead of ETH by a relatively slight margin: the market capitalization of Ripple’s token was higher by 0.3%, or almost USD 82 million.

(Click on the image below to get the latest data)

A Historic Day No. 2: XRP Overtakes ETH and Retreats, Again 103

In less than a few hours Ether returned closer to Bitcoin, again, after XRP dropped from USD 0.7015 to USD 0.5589 and trimmed its weekly gains to less than 105%.

Percentage of total market capitalization

A Historic Day No. 2: XRP Overtakes ETH and Retreats, Again 104
Source: coinmarketcap.com

As said, this week, Sagar Sarbhai, head of regulatory family members of APAC and the center East at Ripple, informedCNBC that he’s “assured” that their product xRapid, a source of on demand liquidity, will move into business utility soonin step with Sarbhai, greater than 120 banks are presently partnered with Ripple, using its blockchain-primarily basedproduct xCurrent, a banking fee answeralso, on Wednesday the organization introduced about a brand new partnership with US-based totally % bank, the 9th biggest bank within the US by using overall belongings.

other factors in large part cognizance at the lately depressed XRP rate, and that the asset has moved into “oversold” territory on several signs used by technical analysts inside the crypto marketplace.

essentiallyhoweverone in every of Ripple’s foremost concerns has been that most banks that the corporation works with chooses to appoint solutions that do not involve the use of the XRP token, fuelling speculations that XRP does now not provide any actual utility for customersin the past, Ripple’s CEO Brad Garlinghouse has defended himself in opposition to such speculation by attacking bitcoin, at the same time as claiming that XRP is “the quality virtual asset for settlement.”

Title of the document

DON'T FORGET TO DROP YOUR REACTION OR COMMENT!

Don't Miss Your Investment Opportunity

More than 2500+ readers already joined. Subscribe to our free newsletter and follow us!

- Advertisement -