XRP Coin’s Surprising Stability During Recent Crypto Market Plunge Has Ripple Investors Feeling Lucky


While Bitcoin is still the undisputed leader, with over 50 percent market hold, Ripple has been dominating the market as well, doubling its market capitalization in the past 3 months. With over $17 billion, the altcoin now makes over 12 percent of the total crypto market.

As the steady decline of all blockchain based currencies continues, XRP has outperformed the rest, even with a value drop of slightly over 10 percent; it has still managed to expand on its total share, in percentage terms of the total crypto market cap.

At a time when the major coins have seen a steep loss, ranging from 20 to 50 percent, XRP’s market cap stands at $17.6 billion, ranking it second with a hold of about 12.5% of the total market. This sort of rearguard action sees it rapidly moving towards the previous all-time high, that was achieved at the height of the crypto bull run at the start of this year.

Real Hope Or False Dawn

This sort of performance has even caught some in the industry off-guard. This sort of positive upturn comes amid a general mood of buoyancy that surrounds the project. In a recent conversation, Brad Garlinghouse, CEO of Ripple expressed the company's direction. He noted that they were not planning to join hands with the SWIFT banking network. On the contrary, the coin is looking to rival and eventually replace the system.

Its position has been further bolstered by the announcement of CIMB. The Malaysian lending behemoth had announced last week that it sees great potential in Ripple’s cross-border payment network and has joined in.

With its continuous expansion, the second largest coin is certainly positioning itself to stand on firmer grounds. This will no doubt help the company surge ahead once the bearish run of the market cycle ends. In the meantime, the virtual currency is treading carefully, at the time of writing, its value is hovering around the $0.45 mark.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide