Ethereum and Ripple XRP are both heavyweights in cryptocurrency. In terms of market capitalization, Ethereum has long been in second place on the list of the largest cryptocurrencies. However, that changed a few days ago when Ripple overtook Ethereum and claimed second place.
On Friday, Ripple XRP had a market capitalization of $ 26 billion, while the market capitalization of Ethereum was approximately $ 23 billion. At the editorial deadline today Ethereum had recaptured second place at $ 24 billion and ripple at $ 21 billion. Nevertheless, ripple fans were pleased that “your” cryptocurrency could influence market positions like this.
Whether or not Ripple XRP succeeds in taking second place and holding it remains to be seen. If the cryptocurrency retains the momentum shown in the last few days, that seems well possible. Then it would also be conceivable that Ripple XRP keeps permanently in second place.
Understanding Ripple XRP
Ripple XRP calls itself “the fastest and most scalable cryptocurrency”. Ripple as a payment protocol was released in 2012. This was an updated version of RipplePay. Its software was created by Ryan Fugger, a Canadian Internet developer, in 2004. Ripple Labs was founded by Chris Larsen and Stellar founder Jed McCaleb. The system was expanded together with Arthur Britto and David Schwartz. At the same time, it was redesigned to be similar in technology to Bitcoin. At the same time, they did not want to design Ripple XRP as a means of payment, but as a channel for quick payments. With that in mind, Ripple Labs continues to market Ripple XRP today.
The current situation
In recent days, Ripple XRP has been flying high. Nevertheless, the experts are not yet agreed, which was triggered. So Ripple had made an interesting message on his website. The point was that RippleNet is now active in 40 countries on six continents.
Furthermore, Ripple had announced that new [RippleNet] -based payment corridors had opened in North America, Asia, Africa, Europe and South America.
These positive news may have influenced the stock price uptake. Crypto Asset Management CEO Timothy Enneking, however, found the market's reaction exaggerated.
The CEO of Blockforce Capital, Eric Ervin, also did not expect a steady increase:
“We do not believe that anything other than rumors and expectations drives the rate of [Ripple] XRP so high today. (…) We assume a short-term market correction. There is likely to be room for growth if xRapid is successfully launched next month. “
So far, Ripple XRP has not shown any weakness and it seems like everyone wants to revitalize the market with Ripple XRP.
Sources: Hacked, BitMEX, Forbes, Pixabay
Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-xrp-and-ethereum-compete-to-the-zweiten-platz/
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