Ripple vs ETH: XRP Boosts Gap Dominance Over Ethereum as Time Passes in Latest Surge
XRP’s performance in the market in the last few months shows that the virtual currency is an important contender in the crypto world. Back in October, Bloomberg Galaxy Crypto informed that XRP is weighed more than Ethereum. At the same time, XRP was ranked very close to Bitcoin, just 6% points under BTC.
Ethereum (ETH) that did not have very positive times during the last months, lost its privileged second position in the market against XRP that strongly grew in the last few days. The market capitalization of both currencies remained stable for some time. However, in the last 24 to 48 hours, XRP was able to move forward and broaden its dominance against Ethereum.
At the time of writing this article, XRP is the second largest virtual currency with a market capitalization of $20.22 billion dollars. Ethereum instead has a market cap of $18.15 billion dollars. Moreover, XRP’s price is $0.5 and Ethereum’s price per coin is $175 dollars.
Ethereum has experienced some problems on its network after ICOs seem to be in a very negative trend. Projects that launched tokens between November and March this year are selling their ETH to avoid further losses in the future. At the same time, development issues have also affected the whole network.
XRP, instead, continues to show its strength and proposal for the world. Ripple, which is closely related to XRP, has been expanding all over the world including new financial institutions to its products and services. XRP could be used by these companies in order to transact funds from one country to another in a very easy and cheap way.
At the same time, XRP received support from Coinbase Custody. Coinbase is one of the largest and most important companies in the cryptocurrency market. Coinbase Custody is a service specifically designed for companies allowing them to store their virtual currencies in a safe and easy way.
In the future, new partnerships could help XRP increase its price and keep expanding the difference that there is between XRP and ETH.