Home / Ripple / Ethereum Regains # 2 Spot Unrivaled ripples, wild volatility as market recovers

Ethereum Regains # 2 Spot Unrivaled ripples, wild volatility as market recovers

C & # 39; is something of a battle for second place in the cryptocurrency markets that is happening right now. Points number two and three, Ether and Ripple respectively (at the time of writing, at least) have swapped positions already twice today with both showing exceptional strength in a day that is unusually green considering the trends so far in 2018. [19659002] XRP and ETH compete for the second spot

The price of the native currency on the Ripple network, XRP, has shocked many today imposing itself impressively to overcome Ether (ETH) for the first time since December 2017. The minimum of 24 hours for XRP was just over 37 cents per coin. Fast forward of 17 hours and XRP reached a maximum of almost 77 cents per coin.

Following the dramatic rise in the price of XRP, many have asked Twitter to gloat about the alleged clairvoyance to support the controversial currency.

Meanwhile, others were more measured in their answers, stating that such a Sudden pump was the dictionary definition of the type of pure manipulation of the market that the SEC is concerned about the various proposals of Bitcoin's ETF. Larry Cermak, an analyst from Diar's Cryptocurrency newsletter Tweeted:

Although almost all markets are in the green today, the dramatic price The wave of Ripple purchases seems to have been suggested by earlier announcements of the week on the xRapid payment system, along with news that the PNC bank will use the Ripple network to facilitate international transfers.

However, the number two displaced cryptocurrency was quick to respond with its price surge. Not as impressive as that of the XRP, even the price of a single Ether coin has skyrocketed, as if it had been pushed to action by the threat of losing its privileged position behind the bitcoin.

The price seemed to be the continuation of the rest of the market with a slight increase up to around 19:39 GMT. Since then it has been on its parabolic upward trend bringing it from around $ 229 to just under $ 250. In terms of market capitalization, a billion dollars has been added in just over an hour.

At the moment there is no indication as to why Ether responded to the movement of the XRP price with his own forced rebound. It seems unlikely that such a move was simply caused by salty fans of ETH who do not want to see their favorite cryptography project take third place behind a coin that many reject according to its ties with international banking institutions. However, the cryptocurrency markets are really full of surprises.

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