The cryptography market has not been a nice place in the last few days, although a Crypto like XRP did well to resist the storm. The whole incident is all about a revised Bitcoin Cash fork. In fact, the only reason the rest of the market is suffering is due to Bitcoin's panic reaction to the fork event. It should be remembered that Bitcoin is the original chain from which Bitcoin Cash was distributed last year.
When the fork happened on November 15thth and the hash war began between BCHSV and BCHABC, even Bitcoin had a severe blow. Bitcoin is a market leader with a prevalence of over 50% which means that its price reactions are bound to affect the rest of the market. This is what happened. Bitcoin went down, and the rest of the market went down with it. But XRP seems to challenge this theory of the "rest of the market".
XRP – The Sole Survivor
Since the fork has occurred, the market has stumbled twice with attempts to recover across the board. In these two events, XRP stood out as a cryptocurrency that challenged the heavy bearish sentiment of staying afloat in terms of daily transactions and market capitalization. While most other cryptos have lost their historical margins, the XRP has dropped only a few percent, if the cumulative figures are taken into account. Although its price has been affected, the crypt has fought hard to keep bears heavy.
In fact, this particular currency is still increasing by some percentages compared to last month's value. This is in stark contrast to the likes of Bitcoin, Ethereum, Bitcoin Cash and others who have lost their value with shocking percentages and are far from where they were last month. Bitcoin alone has lost about 20% in value in recent days. As such, XRP emerges as the only survivor of the market crash.
Ethereum beaten in third place
In addition to keeping its value high, XRP has taken great steps to overcome Ethereum and become the second largest cryptocurrency on the market. In fact, the market crash seems almost a blessing for XRP. The volume of Crypto's daily transactions is now well over $ 1 million. At the time of writing this article, XRP is almost $ 4 billion ahead of Ethereum in terms of market capitalization. In this sense, it seems that XRP is gaining instead of losing the war of the bear.