After slipping off its initial world’s second largest cryptocurrency position, Ripple (XRP) seems to be back on track by regaining its lost market capitalization. As it is currently, it is back to its second position after displacing Ethereum. In this month alone, Ripple has recorded more than 100 percent increase and many investors are placing their confidence in it.
The Market Capitalization of Ripple (XRP)
Currently, Ripple’s market capitalization stands at $22.2 billion. This figure edges that of Ethereum by $0.1 billion as the current market capitalization of Ethereum is just $22.1 billion. Reports from CoinMarketCap affirms that the number one cryptocurrency, Bitcoin, still continues to sit comfortably at the top. Its market capitalization as of 8:30 am today is a whopping $133 billion.
People trade Ethereum via a digital token known as ether and this token has been largely sold off in this year alone. In the opinion of many people, this is not unconnected with the humongous amount of altcoins which are said to be built on the platform. Many believe that the sale of these altcoins in this year has affected Ethereum.
In 2018 alone, the number of times Ethereum has falling amounts to about 84%. It began at $1,400 and at a point, it was selling for around $215. Nevertheless, this was about the same rate at which Ripple (XRP) has also derailed in the period under review. From $3.71 it was initially trading for, it went as low as $0.26 just at the beginning of this month. Perhaps, one should give it to Ripple (XRP) having started in 2017 with just $0.006.
The recent surge has ensured that the crypto witnesses up to 25% in just 24 hours. This announcement was made by US-based Coinbase in a blog post by it. The post reads in part:
Today we’re announcing a new process that will allow us to rapidly list most digital assets that are compliant with the local law, by satisfying listing requests in a jurisdiction-by-jurisdiction manner… In practice, this means some new assets listed on our platform may only be available to customers in select jurisdictions for a period of time.
Speculations about Coinbase listing Ripple (XRP)
Several individuals have taken this release by Coinbase as a pointer to the fact that it might soon list on its platform. This speculation is quite unverifiable but if it eventually turns out to be true, it would be a big plus to Ripple (XRP). Getting a spot on US largest exchange would increase the marketability of Ripple’s tokens.
Already, Nigel Green who is the CEO of deVere Group had predicted that before 2018 elapses, the price of Ripple would stand at $1 per token. He seems to be positive about the crypto becoming the future of money. In his words, “XRP is proving to be one of the most useful cryptocurrencies for business organizations and individuals.”
Definitely, Ripple is among the oldest cryptocurrencies out there as it came up in 2012. It has managed to stand out from a myriad of others cryptos by relating to relevant financial sectors directly.