Ripple’s [XRP] market dominance increases more than 11%, while Ethereum’s slips below 9%
The cryptocurrency market is still in shock with the latest market crash in which the markets reach 13 months low. Ethereum and Bitcoin Cash were few of the worst affected cryptocurrencies by the markets crash.
Ethereum’s price fell by 42% since the beginning of the crash. Ethereum was trading at $214 on November 10th, but is now currently trading at $122. Weaking cryptocurrency market, combined with panic ICOs selling Ethereum, seems to be the biggest contributor in Ethereum’s price drop.
Ethereum has lost its position of the second largest cryptocurrency to XRP. Ethereum’s market share has also dropped from close to 11% to 8.7%. On the other hand Ripple’s [XRP] market share has increased from 8% to 11.4%.
XRP hasn’t been affected much by the latest market crash. A working product and some great partnerships have made XRP a favorite among investors who believe that XRP would be the first one to bring a financial revolution.
XRP dropped the leat in the cryptocurrency price crash, with the price falling by only 18%. XRP is currently trading at $0.41, from $0.50 on November 10th. Although XRP volume has seen a bigger drop than Ethereum. XRP’s daily trading volume peaked at $1.5 billion on 20th November but dropped to $728 million. Whereas, after a big panic sell, Ethereum’s volume has reached its normal daily trading volume.
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