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Ripple (XRP) has once again overtaken Ethereum by market capitalization, amid turbulence and downward trends in the cryptocurrency market.
Only $ 100k separates Ripple and Ethereum
As confirmed by Coinmarketcap, Ripple's XRP token is now the largest altcoin, losing less than Ethereum in the last 24 hours. As a result, ETH is now in the third largest cryptocurrency, repeating what became a model in 2018.
Such as Bitcoinist previously reported, XRP has passed the ETH quite recently on the back of noisy token expansion.
While not directly influencing Ethereum, Bitcoin Cash's forex bitcoin seemed to hit particularly well, ETH / USD 00 losing almost 15 percent to the 11 percent of Bitcoin.
XRP / USD 00 fell 9.2 percent, the difference in market capitalization between the two altcoins is now only $ 100,000.
No cause to celebrate
The short-term success of XRP contrasts with the continuing advertising battle that Ripple has seen in recent months.
While the developers of Ethereum continue with the main technical developments that many have supported, Ripple appears to be mired in criticism of both its products and its executives, who have issued contradictory statements about the company.
In October, the managing director Brad Garlinghouse rebut at the accusations the network was excessively centralized.
"As the company's CEO I can not control the XRP register, I can not change a transaction," he told Cheddar.
"… I think there are a lot of people out there who are leading holy wars, they are spreading misinformation – and they are spreading misinformation because they have an economic interest in this."
Nonetheless, the third-party interest in the token remains with the news this week that it is emerging that Japan's largest bank wants to use it as a basis for a cross-border repatriation service in Brazil.
Many financial institutions are currently considering the concept of remittances based on Ripple, with the xRapid payment network of the company that also debuts with XRP as a medium of exchange.
What do you think of Ripple that surpasses Ethereum? Let us know in the comments below!
Images courtesy of Shutterstock, Bitcoinist archives
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