10% XRP rockets; Ethereum [ETH] left behind as the distance between the coins widens


While the cryptocurrency market takes off from the bear market, XRP seems to be far ahead of the curve. At the beginning of this week, XRP passed Ethereum [ETH] when it has exceeded the market capitalization of this last.

Over the course of two weeks, XRP has twice cut ETH to claim second place. Only this time, the damage to Ethereum seems permanent because the market limits between the two widen every day.

At the time of writing, XRP recorded a strong recovery of 10%, trading at an appreciated price of $ 0.51 with a market capitalization of $ 20.6 billion. The total volume of token exchanges in the last 24 hours was recorded at $ 729.4 million.

In 1 hour candles, XRP also broke the previous resistance with a small amount. In the last 1 hour candle, the previous resistance set at $ 0.51 will also be broken if the candle closes above $ 0.52.

For this XRP rally, the maximum volume of trade is originated by Binance, the main exchange of cryptocurrencies in the world. Trading volume is provided by two pairs on Binance, XRP / BTC and XRP / USDT, which together add up to $ 119.4 million.

The exchange based in Japan, Bitbank is also recovering the trade volume of XRP, in which the pair XRP / JPY is exchanged by itself heavily on the exchange. The trading volume of this pair is recorded at $ 103.1 million.

This price increase could be associated with the success of Ripple, the parent company of XRP, in the FinTech sector. While Ripple's leaders travel around the world and hold talks with the institutions that matter, they reflect on the XRP ecosystem in the most profitable ways.

Recently, Brad Garlinghouse, CEO of Ripple, conducted a session of talks on both sides with Ross Leckow, Deputy General Councilor, International Monetary Fund. At the Singapore FinTech Fest 2018, the two discussed the remittance space and its progress through blockchain in detail and the regulatory framework required to facilitate change.

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Priyamvada Singh

Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.

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