XRP Nears Longest Stretch as World’s Second-Largest Cryptocurrency
XRP is now officially ranked as the world's second largest cryptocurrency in terms of market cap for the longest period since 2016.
On November 15th, the San Francisco blockbuster startup Ripple and its long-connected cryptocurrency XRP market capped $ 19.39 billion and was enough to overtake the world's second largest cryptocurrency ether (ETH). The second asset of the market for a long time.
This 11 day stretch is the longest XRP since XRP took second place for 13 days from January 26, 2016 to February 8, 2016.
In fact, the dominance of XRP, an indicator of the percentage of total cryptocurrency market capitalization contributed by cryptocurrency, reached a 45-week high (with a slight retreat to more than 11% since November 20th at 12.74). For comparison, the dominance rate of bitcoin (BTC) is now 53.9 percent, while the rate of ether, the world's third largest cryptocurrency, is 9 percent.
In particular, since XRP began to gain market share on November 15, the broad cryptocurrency market has lost $ 90 billion to date, representing 40% of its total capital.
Needless to say, all of the cryptocur calls to the US dollar can be depreciated considerably due to market defeats. XRP and ETH lost 22% and 37% for 11 days, respectively, while the world's largest cryptocurrency dropped 32%.
In spite of the XRP's propaganda in the market, ETH significantly increased its volume in the second half. According to CoinDesk's Crypto-Economic Explorer (CEX), Exchange volumes in ETH have been $ 2.444 billion in the past 24 hours, almost double the $ 1.3 billion of XRP.
Disclosure: I have written in BTC, AST, REQ, OMG, FUEL, 1st and AMP.
Image of Bitcoin Ripple via Shutterstock
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