As you already know, CoinMarketCap keeps tabs of the performance of important cryptocurrencies. It provides reliable information about the total market capitalization of these coins as well as the trading volume and daily performance of cryptocurrencies. Since the creation of cryptocurrencies, Bitcoin has always been number one. Giving a wide margin, ETH has held the second place for a long time now. Unfortunately, things seem to have fallen in favor of XRP. Thanks to the recent dip in the market capitalization of ETH and the rise in the market capitalization of XRP, ETH is now third place in CoinMarketCapital’s list of top cryptocurrencies.
XRP Is Reaching For The Moon
On Thursday, XRP, for the third time in history, claimed the second spot from ETH. While it has done this twice before, this is the first time it is holding this position for such a long time with a high margin. At first, XRP took over by more than $600 million. Yesterday the market capitalization increased again and the margin moved to $1b. At the time of writing, however, XRP was $2.39 billion ahead of ETH. While the difference isn’t as much as the difference between Bitcoin and every other coin, it is still significant and with the rate at which XRP is growing, it is only going to increase.
XRP (XRP) Price Today – XRP / USD
If you take a look at the big picture, you’ll see that a fall in the value of Bitcoin isn’t necessarily affecting the value of XRP as much as it used to. In fact, some would say that, these days, XRP gatherers more momentum when BTC falls. Ethereum, on the other hand, is still closely linked to Bitcoin. So, as the price Bitcoin plummets, the price of ETH follows suit. Unless Bitcoin enters a significant bullish rally soon, the gap between XRP and ETH will only increase short-term.
The XRP token isn’t soaring higher for no reason. There are strong fundamentals backing this coin that have contributed to the hike in price. For starters, Ripple is making serious moves against the traditional cross-border payment system, SWIFT. Not too long ago, the CEO of Ripple, Brad Garlinghouse, said that he is certain that the xRapid technology has the potential to overtake SWIFT in the future.
Obviously, the technology is as good as Ripple claims as many service providers from around the world are starting to integrate the xRapid protocol. This commercialization is having a positive effect on the value of XRP. Moreover, XRP is becoming a more appealing payment option in the payment space.
XRP And ETH Price Analysis
At the time of writing, XRP was trading at $0.509844. This shows that it is up by 6.69% against the USD and up by 6.0% against Bitcoin. Over a 24 hour period, the trading volume is $865,362,721 and the market capitalization is $20,532,304,323.
Ethereum (ETH) Price Today – BTC / USD
ETH, on the other hand, is trading at $175.65. This shows that it is up by 0.72% against the USD and up by 0.12% against Bitcoin. The trading volume over a 24 hour period is $1,760,308,261 and the market capitalization is $18,140,173,502.