Amid the constant fluctuations in prices, this week saw its fair share of the action. The week began with a rebound in the market, with players like XRP, Bitcoin and Ethereum that have achieved double digit percentage gains. However, the bulls seem to have lost steam, but the XRP remains strong.
For one, XRP was one of the most notable cryptocurrencies that resisted the bearish sentiment in recent weeks. While most of the other top-scrambled Bitcoin and Ethereum have lost surprising percentages in their market value, Ripple's native currency has remained fast, losing only slightly.
For example, Ethreum lost about 50% of its previous value before the bulls loaded a few days ago. But even after the bullish reversal, ETH did not claim anything to get closer to its previous position. The crypto that was traded at $ 200 before the November 15 crash is now struggling to stay above the $ 110 range. This is very different from XRP which has recovered much of its previous gains.
In addition to losing in terms of price, cryptos also saw a decline in their market capitalisations. Again, XRP seems to have dug and lost only a few billion. His rivals like Bitcoin have lost their disconcerting margins. Bitcoin's capitalization has fallen from over $ 100 billion and is now around $ 70 billion. Ethereum plunged over $ 20 billion to just $ 11 billion. In fact, XRP eliminated ETH from second place. Since then, XRP has maintained its new position as a second cryptocurrency by market capitalization.
At present, XRP's market capitalization is approximately $ 14.5 billion. This equates to almost $ 4 billion between XRP and ETH. As this was the gap even during the recent accident, it means that ETH could actually find it difficult to recover its second position before XRP. In this case, Bitcoin becomes the only cryptocurrency that prevents XRP from becoming the largest on the market.