The recent news on Ripple’s XRP took everyone by surprise
The recent news on Ripple’s XRP took everyone by surprise when the XRP had a bullish run which surged its price by 80% of its initial value. The famous saying of what goes up must come down has once again proved by the XRP as it was replaced back by the original placeholder Ether.
The battle for the second place in the cryptocurrency market has always been a hot topic. The fight for the 2nd place has surely given both the cryptocurrencies high hopes to flourish further. The second and the third place by the marketcap which are ruled by Ethereum and Ripple have been seen to swap positions twice with both of them green considering the trend so far in 2018.
The sudden jump by the XRP in 17 hours which took its value from 37c per coin to a high of almost 77c per coin. Many gloated on Twitter with the rise in the price for the currency.
$XRP Where are all the XRP shit talkers now??? LMAO "XRP will never go back up" "XRP will never go to ATH" "NO one wants XRP anymore" LOL LOL LOL How quiet they have become! Bank coin or no bank coin, who cares as long as its going to put money in your pocket!! Can you say ROI pic.twitter.com/uKec2oj5Tq
— Bleeding Crypto (@Bleeding_Crypto) September 21, 2018
Although the first place in the cryptomarket is commanded by Bitcoin as usual. The rise in the Ripple has been backed by the reason that the Ripple announced a week ago about the xRapid payment system along with news that PNC bank will be using the Ripple network to facilitate international transfers.
The threat of losing its position behind Bitcoin was soon seen and Ether was reactive to it as the price of a single Ether coin also rocketed up though not by the same impressive spike as that of XRP. The price was seen to follow the same market trend with a slight increase until around 19:39 GMT. The price went up by $229 to just shy of $250. In terms of market cap, a billion dollars was added in just over an hour.
It seems the rise of XRP over ETH was not liked by the ETH enthusiasts that their favourite crypto project takes third place behind a coin that many dismiss based on its links to international banking institutions.