Categories: News

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.


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

Did you like the news you just read? Please leave a feedback to help us serve you better

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.

Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He joined the cryptocurrency space in 2017. He is the founder of Blockmanity. He is a HODLER and is holding BTC, ETH & UGT.

Share
Published by
Ishan Garg

Recent Posts

Bullish Signals for Sui Blockchain: Top SUI meme projects of 2024

Macro guru and Real Vision CEO Raoul Pal shone the spotlight on a rising layer-1…

2 months ago

AI Companions: A New Era of Digital Relationships and Virtual Experiences

As the technology landscape transforms at lightning speed, AI Companions has positioned itself as a…

2 months ago

zkCross Network: Simplifying DeFi Complexity and Achieving Fundraising Success

Did you know that 85% of DeFi value is concentrated in six blockchains?  DeFi is…

2 months ago

Don’t Miss Out: Get $CLP Tokens in the Exclusive RWA IDO Now!

CLAPART - a groundbreaking RWA platform has launched its much-anticipated $CLP token IDO on Gempad…

3 months ago

Step into the Future of Web3 at Blockchain Futuristic Conference 2024, August 13-14

Join us at BFC 2024 to explore the future of Web3. Use a special discount…

4 months ago

WebX Asia 2024: Web3 Innovation Ignites in Tokyo

Catch all the updates with Altcoin Observer, official media partner of WebX Asia 2024. Gear…

4 months ago