A "Flippening" has arrived once again in the cryptocurrency markets, but – much to the regret of the ethereum investors – it is not what the holders of the Eth has long foreseen.
Supported by a seemingly parabolic rally not seen since January, ripple (XRP) managed to oust ethereum as a second cryptocurrency by market capitalization
According to CoinMarketCap, XRP currently has a total valuation of $ 23.9 billion , placing it over $ 400 million before ethereum. The price of ripple has increased by an incredible 64 percent in the past, limiting a one-week rally of over 113 percent.
There is no clear trigger for the XRP price rally, apart from the San Francisco-based blockchain launch announcement that XRP-based commercial blockchain applications will go live "in the next month or down there. "
Commenting on the recent XRP gathering, Matthew Newton, an eToro analyst, told CCN that "the stars seem to have aligned" for the currency.
"Despite being one of the most polarizing cryptographers of all, eToro's customers can not get enough XRP at the moment, it has more visibility than any other resource on our platform.As we have seen in the past, the price tends to move in short , in sharp gusts, gathering a lot of momentum when building the hype.It remains to be seen how far it could go. "
Ed Cooper, head of furniture at the fintech company of Crypto-friendly Revolut, declared in a statement sent by e-mail that "remains to be seen" if the event is held.  "High transaction values, combined with market sentiment after Monday's announcement, could be why XRP has reached new highs, having gained almost 50% in the last 24 hours. It is a good news for many crypto fans and especially for XRP fans, it remains to be seen if the uptrend will prevail, given the current market conditions that have seen almost all the criptocurrencjy lose much of their value from the beginning of the year. "
As reported by CCN, XRP briefly exceeded the market capitalization of ethereum in December and at the beginning of January, when the mania of the investor and the" Award " Kimchi "pushed his price to $ 3.84 and ripped the first cryptocurrency after bitcoin to get a market capitalization of $ 100 billion. However, ethereum finally regained the silver podium, a position it has maintained until 2018.
Close-up image of Shutterstock
Follow us on Telegram or subscribe to our newsletter here.
• Sign up for CCN & # 39; s cryptographic community for $ 9.99 a month, click here.
• Do you want exclusive analysis and in-depth analysis encrypted by Hacked.com? Click here.
• Open positions on CCN: sought-after full-time and part-time journalists.