$ 2 billion wiped out of the market while Ethereum (ETH) heads for the 2nd position of XRP

• Ethereum is approaching Ripple's XRP to regain its second position in the market.
• ETH is preparing for a new year's rally ahead of the long-awaited Constantipole upgrade.

The cryptocurrency market is relatively stable on the last day of 2018; the year of the showdown in the sector. Cryptocurrencies have experienced the highest volatility in history, while at the same time they have suffered some of the worst sales in recent years. Bitcoin decreases from historical highs of around $ 20,000 to annual lows of $ 3,200 in the last month of the year. All forecasts according to which the price of Bitcoin will bring the market recovery has never happened and it is now clear that we will close the year with BTC stuck in a range below $ 4000.

The total market capitalization has steadily increased from the lows of 2018 to around $ 100 billion. The month of December has experienced both the rise and the downward spirals. However, the scramblers were not able to maintain the market value above $ 140 billion. Moreover, since yesterday, at least $ 2 billion from $ 130 billion to the current $ 128 billion has been lost.

Ethereum (ETH), long held tight to 2^ND position on the market after Bitcoin (BTC). This also meant that it was the biggest altcoin in the market; a position currently held by Ripple's XRP. Ripple's XRP was able to mitigate the declines significantly over the past three months compared to assets such as Bitcoin and Ethereum. The declining price of Ethereum has given XRP the energy to fight and become the second largest digital asset in the world.

However, this situation is set to change in the first quarter of 2019. As already discussed, ETH / USD is preparing for a new year's rally in view of the long-awaited update of the Constantipole rigid fork.

Learn more about the Ethereum hard fork here.

At the time of writing this article, Ethereum is approaching Ripple's RXP in terms of market capitalization. Currently ETH is $ 14.22 billion while XRP is down to $ 14.68. If Ethereum continues to receive support due to the imminent network upgrade, we will soon see the resource in its second position. In addition, recently co-founder of the network, Joseph Lubin told the community that the "sky is not falling" and that the network is on the right track when it comes to development.