The Chase Continues As Ripple Overcomes Ethereum Once Again

By Sumedha Bose

The market continues being unpredictable and keeps surprising us. In the last 24 hours, Ripple (XRP) has once again climbed above Ethereum on the crypto ladder and has displayed a 7 percent surge in price, acquiring a total market cap of $24.28 billion.

Ethereum is trailing behind Ripple at a $24.15 billion valuation. However, it is being estimated that Ripple will not be able to maintain its lead for much longer and Ethereum will regain its position in no time.

September has seen the most volatility in the market in terms of this goose chase between Ripple and Ethereum. The former has overtaken the latter a total of three times in the second half of September alone.

Proving the predictions of many experts wrong, XRP is gaining a lot of popularity and it is now fiercely competing with Ethereum for the second spot after Bitcoin, in the international crypto market.

How did Bitcoin fare?

Bitcoin had demonstrated a slight surge on September 27, it went beyond the $6,700 mark and inched closer to the $6,800 resistance level. There was a slight drop to $6,500, soon later on September 28.

As of the last few hours, the range that Bitcoin keeps touching is between the mid-$6,000 region, to the $6,550 mark, which it touched on September 29.

Luke Martin, a credible crypto expert said,

“Would be a bullish sign for BTC to get the daily close above $6,550 zone. Since they’re still highly correlated would be positive for alts too and could make a stronger case that the recent higher lows would hold.”

What is XRP up to?

As mentioned above, a 7 percent surge has already poised XRP to become the second most valued cryptocurrency in the last 12 hours. Experts however believe that the short term price trend indicates thet ETH will soon have decent gains in their basket to take back the number two spot.

 

Sumedha Bose

Sumedha uses words as her crutch to get by in life. She takes a keen interest in debating, dancing and destroying the patriarchy in her free time. She can be contacted at [email protected].

Related Posts