Ripple is worth more than Ethereum. The market capitalization of XRP has surpassed that of ETH after a long period that Ripple was lagging behind.
Both are worth around $23 billion at the time of writing, but Ripple is valued at a bit more than Vitalik Buterin’s brainchild. High volatility continues in crypto markets.
The surge in the price of Ripple has three reasons behind it. The latest news is the announcement about a partnership with the American PNC Bank, but it is far from the only piece of goods news that helped XRP/USD.
Here is how it looks, courtesy of coinmarketcap.com
Ripple has come back from the ashes after losing around 90% of its value at some point earlier this summer. Ethereum has been suffering from scaling issues.
The move higher in cryptocurrencies came despite yet another delay from the SEC regarding a decision on a Bitcoin ETF. The authorities need more time. The upside move in Ripple began before the SEC made its news public and as mentioned earlier, related to three factors.
Every surge garners more interest, and the current dethroning of Ethereum may attract more funds to Ripple. Media attention tends to amplify market movements. It will be interesting to see how far it goes.
Further technical analysis: Ripple Price Prediction: Ripple flies to the stars, its natural place
Bitcoin remains in top position. The grandaddy of cryptocurrencies outperformed its Altcoin peers for quite some time, but the recent flippening in favor of Ripple against Ether may strengthen other alternative coins.
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