Ethereum (ETH) Shoots Past Ripple (XRP) To Take Back the Second Position

Ethereum (ETH) has had a sketchy few months, with the prices almost touching $100, and the crypto community losing hope on the once most talked about Cryptocurrency. However, in a sudden bull like the sentiment, ETH whooped past $110 and is valued at $120.75 and a market capitalization of $12.65 Billion at the time of writing.

It overtook the fast and efficient XRP which is currently valued at $0.30 and a market capitalization of $12.5 Billion. While Ethereum has shot op 2.7% XRP has lost a minute 0.02% in value in the past 24 hours.

Image Source: Coinmarketcap

Ethereum has been traded over 6 times the volume of XRP, Ethereum’s 24-hour trading volume has surpassed $3.1 Billion a majority of which comes from exchanges like OEX, ZBG, and Bibox. On the other hand, XRP’s trading volume is shy of $480 Billion a majority of which comes from ZB.com, ZBG and BitForex exchanges.

Ethereum’s delay of the Constantinople hard fork had led to pessimism, but a rescheduling of it to late February could be the main reason for the bullish momentum. It is scheduled around February 27th.

Blockmanity’s Take

Both ETH and XRP have an active community with being formidable forces in their respective fields. ETH is dedicated to being a blockchain for dApps, smart contracts and an overall ecosystem which is strongly supported by Enterprise Ethereum Alliance. It hence has a strong influence on IT giants such as Microsoft, Intel, and JP Morgan. The creator of Ethereum, Vitalik Buterin has showcased the key highlight of ETH being decentralization which is a core value of blockchain and cryptocurrencies.

XRP, on the other hand, has created a wave of interests, especially among financial institutions and banks. Its technology such as xRapid has created a faster, cheaper and efficient way for cross border transactions.

It will be interesting to see which cryptocurrency has a higher value in terms of value brought to the world, and which field really needs a more cryptocurrency positive approach.

Also Read:

Ethereum’s Vitalik Buterin and Tron’s Justin Sun Troll Each Other over BitTorrent 

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