Ethereum (ETH) Reclaims Its Position from Ripple (XRP)

Ethereum (ETH) Reclaims Its Position from Ripple (XRP)

Ethereum (ETH) Reclaims Its Position from Ripple (XRP)

At the time of that agreement, Ripple said that McCaleb and his children owned 7.3 billion XRP. But even then, the success was short-lived. After a week of trading in the low $0.20 range, the currency's market cap briefly exceeded that of Ethereum, while its price jumped up by roughly 74 percent following the announcement of its latest product xRapid.

Ethereum (ETH), EOS, Cardano (ADA) are down by more than 9%. Within a few minutes, ETH shot up from around $230 to $250.

This morning, XRP once again "flippened" ETH after trading up almost 20% at approximately $0.55. As Ripple's Greater China Chief Rep from 2014-16 and a Ripple shareholder, I'm confident financial institutions will adopt blockchain. As fast as the Bitcoin hiked from 6200$ to 6700$, Ripple price also hiked to $0.59. By contrast, XRP's market share nearly doubled from 5.5% to 10.2%. Most of the XRP trade took place on Binance, which held a total trade volume of $147.77 million.

"The addition of a top USA bank like PNC on RippleNet fuels the network's positive momentum".

PNC Bank, a leading bank in the United States, has announced that PNC Treasury Management has joined RippleNet - Ripple's enterprise blockchain network with over 100-member banks and financial institutions.

Ripple has managed to secure a network of approximately 120 financial partners, including Western Union, Santander and MoneyGram. XRP surpassed Ether as the second-biggest cryptocurrency on the surge, according to CoinMarketCap.com data.

Ripple is one of the most popular blockchain startup company that develops blockchain innovation or the product that previously developed as the framework supporting digital currencies.

XRP surge shows PNC Bank's recognition of the Ripple protocol.

All of these factors are probably contributing heavily to XRP's bull run.

XRP pushes past ETH for now.

We would like to explore this mathematical experiment briefly. While this may be true long term, short term this is not what is really influencing the price of Ripple (XRP). Earlier this month, Bitcoin's dominance reached its monthly highs of 58%, and has since fallen to its current levels of 51%.

Recent News Fueling Positive Price Rise?

Furthermore, it should be noted that Ripple still retains more than 50% of all XRPs in a trust account in order to gradually circulate them, which will result in an increased supply. Stellar, meanwhile, is priced near $0.25 and ranks sixth with a market cap of $4.8 billion. Therefore, the assumption should be that if the platform doesn't catch on, XRP will need to find a new reason to exist. Do your market research before investing in cryptocurrencies.

Unlike other cryptocurrencies - and a certain portion of the cypherpunk crypto community (one might prefer to use the term "purists") - Ripple has always been open about interacting with financial institutions and regulators.

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