For the first time since February 2016, Ripple has returned to No. 2 on the Coinmarketcap chart, outpacing the $ 3 billion Ethereum market capital.
Ripple (XRP) continues to extend its explosive run today with a huge gain of 75% against the USD / 68% against BTC (at the time of this writing). After finding temporary resistance at $ 0.48 last night, the renewed intraday support coming mainly from the East helped bring the asset well above $ 0.60, driving the business well beyond the market capital of Ethereum.
At the moment XRP is already surpassing $ 0.75 with ease and the current commercial frenzy shows no signs of stopping soon. Ethereum, on the other hand, managed to obtain a modest 8% gain against USD / 3.79% against BTC, but is rapidly losing ground compared to the new front runner.
At this stage it is unclear how long Ripple will continue to increase, the xRapid ad that came out this week is a huge novelty for the encrypted space while Ripple takes a step forward towards bridging the banking world with digital currencies. However, this extreme upside behavior is unlikely to continue throughout the weekend and we will probably see a serious incident once panic sales begin to overwhelm FOMO buyers. What will be interesting to see is if Ripple manages to maintain his new position on the podium once the smoke is clear, or if Ethereum returns to the top 2.