Is it not amazing how the formerly known 3rd largest cryptocurrency by market capitalization now occupies the 2nd position on the rank? Yes, its simply amazing, because, this same digital currency usually follows Bitcoin’s moody swings but now it seems the coin is gradually decoupling itself from Bitcoin.
The coin is really looking good in this bear season as it maintains number 2 spot for almost a week. Weekly comparison to btc xrp dropped 4.12% this week while btc dropped 13.40%. Monthly comparison xrp spiked 8.08% vs btc -14.72% decline.
For quite some days now, XRP has proved to be ahead of ETH in terms of total valuation and the gap continues to increase on a daily basis. As at the time of penning this down, XRP’s market cap accounts for $20 Billion while that of ETH reads $18 Billion.
In terms of supply XRP accounts for $40 Billion while ETH reads $103 million only. A difference of $39.8 Billion. The difference between ETH and XRP is absolutely clear and it is expected to continue this way until the coin achieves its goal of dominating the entire crypto industry.
The past 24hrs, the coin observed 5% gain in USD and BTC value. Currently trading at $0.51 signifies another 3.03% gain in its price. The use cases provided by Ripple and its XRP assets is said to be the reason why the coin has been performing so well in the financial sector today. Come 2019, traders will seek for assets that has specific use cases.
This however, is not in any way a form of financial advice. You are responsible for any actions carried out in the crypto space, so, do well to carry out due diligence before investing your money on any asset. The author only hold a reasonable amount of XRP.