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Ripple (XRP), the third largest cryptocurrency in the world, has closed an impressive one-day rally with a foray into the silver podium of the market, briefly expelling ethereum (ETH) from the long-standing market ranks time he called home.
Ripple (XRP) Ethereum challenge for the silver podium
The rally, as reported by CCN, saw a 14% increase in the price of ripple on a day when bitcoin (BTC) was traded sideways, and no other large-capitalized cryptocurrency increased by over 4%. In fact, the daily yield of XRP was three times higher than that of Metaverse ETP, whose 4 percent gain was the second best among the top 50 cryptocurrencies. After the recovery, the circulating value of XRP has briefly surpassed the circulating value of ethereum. According to CoinMarketCap, the ripple took the silver crown shortly after 9:42 UTC and briefly claimed 10.35 percent of the total capital cap of cryptocurrency.
XRP Sustain Momentum?
While Crypto startup Ripple, still the majority owner of the token, has made progress in promoting the adoption of its blockchain products – including xRapid, which unlike the more established services of the company uses XRP cryptocurrency – not it's clear what the rapid ripple of today has predicted.
In any case, it is not the first time this year that the ripple has managed to overcome the ethereum to become the biggest speck in the bitcoin rearview mirror. On several occasions, XRP has seen an unexpected surge in prices that is unrelated to the rest of the market, allowing the token to reach the silver podium, albeit in a short time. For example, in September, ripple increased by 64% in a single daily trading session, reaching a peak of over $ 30 billion after closing at $ 11 billion just two weeks earlier.
However, on each of these previous occasions, the XRP rally quickly ran out and the asset proved unable to consolidate its bitcoin gold silver position. The two assets of cryptocurrency remain upside down at the time of writing, but it seems that the story will win again. At present, ethereum has a market capitalization of $ 21.9 billion, with a margin of over $ 700 million on the $ 21.2 billion ripple valuation.
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