Ethereum Returns to Its #2 Spot on CoinMarketCap, Passing XRP As the Week Begins
Ethereum has been holding the #3 spot on CoinMarketCap for months, ever since XRP passed them in market capitalization. However, as of this weekend, Ethereum came through and reclaimed its rightful place right underneath Bitcoin. But what does this all mean?
There are many experts and analysts that are trying to figure out what the price will experience in 2019, though the target all along has been a goal of reaching $1,000. Unfortunately, it is fare below that mark at this point, and there are multiple opinions on how the year will go for ETH.
WalletInvestor has voiced their belief that Ethereum will be around $100 to $110 in February, which is a little cynical, considering where the token presently resides. Still, the month is not even halfway over, so anything can happen. CoinPredictor’s projected price is even lower at $59 by the end of February.
The only expert source that seems a little more encouraged about the path of Ethereum is Trading beasts, which believes that the price will reach $494 this month. Still, they projected a $249 value at the beginning of the month, so they may not be the most reliable source.
Some people think that Vitalik Buterin’s Twitter posts from 2017 could be the cause. At the time, Buterin called BitTorrent a “megatime success” indirectly, when he was questioned by another user about what would be considered one. Recently, Justin Sun brought attention to this tweet by publicly thanking Buterin on Twitter over the weekend.
While Ethereum is enjoying this victor, the XRP community is perplexed. Ripple is always adding new partners, and they even were recognized by SBI Financial Group last month for their cross-border transactions. While the recent SWIFT/R3 partnership is due to be a beneficial one, the price of XRP has not shown the same.
Right now, ETH has a valuation of $122.94 per token, with a market cap of $12,886,627,198. XRP, on the other hand, is $0.306935 each, holding a $12,636,288,220 market cap. Considering how close the market cap is, is it possible that XRP will reclaim the #2 spot soon?