Ethereum (ETH) Takes over XRP by a Storm to Occupy the Second Position

Ethereum Surpasses XRP

Ethereum has occupied the second place on Coinmarketcap.com appreciating over 8% in value in the past day. It seems like a good start for Ethereum this year, exactly a year ago ETH was priced at a whopping $864 with a market cap of $84 Billion. Today it is priced at $150 with a market cap of $15.5 Billion

Ethereum was placed firmly on the second position among other Cryptocurrencies until mid-September when XRP overtook Ether to occupy its position. Now after a year-end rally, ETH has finally jumped back to occupy the second position.

Image Source: Coinmarketcap

At the time of press, Ethereum is valued at $150 on Bitfinex with a market cap of $15.5 1billion surpassing XRP’s $14.8 Billion. ETH bottomed in the first half of December reaching a year to date low of $82 a coin, it soon bounced to $155 in less than 10 days. ETH was clearly oversold at sub $90 levels after which it has bounced substantially and has risen in dominance.

Image Source: Tradingview

XRP had risen in price relative to Ethereum from 0.0022 in early November to as high as 0.0034 in mid-December. But XRP started rapidly losing value relative to Ether in the last ten days of December and it became quite evident that it would eventually lose its dominance to Ethereum.

But the two Cryptocurrencies are still competing neck to neck for the second position on the market. XRP has fallen 2% in value today finding itself at 0.0027 relative to ETH despite being made the base currency on the popular exchange Binance.

Image Source: Tradingview

Blockmanity’s Take

The year 2019 is going to be an interesting year for Ethereum as it is undergoing many technological improvements like the Constantinople hard fork which is set to happen on Jan 16th.

The price of ETH skyrocketed with the ICO mania of 2017, but now as those ICOs have dropped out so did Ethers price. But Ethereum is stronger than ever in its technology, we might see plasma implementations come to fruition and even some gaming dApps using Ethereum get popular this year.

Also Read:

Ethereum’s Constantinople Hardfork to be activated on Jan 16, 2019

Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity

Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.