BREAKING: Ripple (XRP) Overtakes Ethereum (ETH) as the New #2 Cryptocurrency

For the first time since February 2016 Ripple is back into number #2 position on the Coinmarketcap league table, overtaking Ethereum’s market capital by $3 billion.

Ripple (XRP) continues to extend its explosive bull run today with a huge 75% gain against the USD/ 68% against BTC (at the time of writing). After finding temporary resistance at $0.48 late last night, renewed intraday support hailing largely from the East has helped drive the asset well over $0.60, driving the asset far beyond Ethereum’s market capital.

Right now XRP is already breaking through $0.75 with ease and the ongoing trading frenzy is showing no signs of stopping any time soon. Ethereum on the other hand has still managed to bank a modest 8% gain against the USD/ 3.79% against BTC, but is quickly losing ground against the new front runner.

At this stage it is unclear how long Ripple will to continue to surge for, the xRapid announcement that came out earlier this week is huge news for the crypto space as Ripple takes a step closer towards bridging the banking world with digital currencies. However, this extreme bullish behaviour is unlikely to sustain throughout the weekend and we are likely to witness a heavy crash once panic selling starts to overpower FOMO buyers. What will be interesting to see is whether Ripple will manage to hold on to its new podium position once the smoke clears, or whether Ethereum will return to the top 2.