The digital currency market saw a very strong price reversal on Friday after trading in the red the previous day. According to data compiled by Live Coin Watch, the value of Bitcoin (BTC) has increased by more than 7 percent over the past twenty-four hours.
The altcoin market alongside Bitcoin (BTC) was deep in the red on Thursday. Interestingly, most of the top alternative digital currencies, such as XRP (XRP) and Bitcoin Cash (BCH), saw double-digit gains on Friday. Amidst the ongoing digital currency price surge, there are some digital currencies that tend to outperform others in the market. One of those digital currencies is Ethereum (ETH).
Ethereum (ETH) Price Today – ETH / USD
Ethereum (ETH) stands Out in Friday’s Price Rally
Ethereum (ETH) is one of the most outstanding digital currency in the recent bull run in the crypto market. At the time of writing, Ethereum (ETH) is the best performing digital currency among the top thirty coins in the market. Ethereum has seen a gain of more than 19 percent over the past twenty-four hours, at the press time.
While this move seems inoffensive enough, the 19 percent increase only shows the strong performance of the digital currency in recent weeks, and this started after the digital currency broke off its yearly low at $81. This significant increase in the value of the digital currency has resulted in a notable increase in its market cap also. As such, the market cap of Ethereum (ETH) is now very close to that of XRP (XRP) – the second largest digital currency by market cap.
The current market cap of XRP (XRP) is $15.16 while that of Ethereum (ETH) is $14.13. The difference between them is just about 8 percent. XRP (XRP) overtook when the two digital currencies converged in mid-November – when XRP started a self-contained micro bull run that left everyone in shock.
XRP (XRP) Is Not Giving Up Its Position
A lot of Ethereum (ETH) enthusiasts and investors have started claiming that Ethereum will reclaim its position and knock XRP down. However, the diehard fans of XRP (XRP) are saying that it is too early to make such declarations. XRP (XRP) and Ripple Inc. have had a great performance this year. Due to this performance, XRP (XRP) might hold its position in the year to come.
XRP and Ripple have achieved quite a lot this year. Ripple now has products that are being adopted and used many financial institutions all over the world. XRP (XRP) has also been listed by many digital currency trading platforms. XRP was also listed on eToro, Uphold, and Revolut. It was also added Binance as a base pair.
If the digital currency is listed on Coinbase, the majority of XRP (XRP) fans would conclude that the fate of Ethereum will be sealed by then. This is because the value of XRP (XRP) could propel to a new height if gets listed on Coinbase.
Ethereum (ETH) Is Still In the Game
Ethereum fans are saying that the network is still doing dandy and fine, while some are arguing that XRP has more tailwinds than Ethereum. However, Ethereum (ETH) still stands a chance because of its forthcoming upgrade – Constantinople.
Constantinople is scheduled for launch in the next couple of weeks, and this might positively impact the value of Ethereum (ETH). This upgrade might increase the chance of Ethereum to reclaim its position.