Published: Wed, September 26, 2018
Markets | By Josh Butler

Ripple (XRP) Beats Ethereum (ETH); Sitting on 2nd in Cryptocurrency Market

Ripple (XRP) Beats Ethereum (ETH); Sitting on 2nd in Cryptocurrency Market

That being said, investors may take note of the use of XRP for Coil's upcoming launch, which could positively affect XRP's price.

Importantly, the announcement seems to indicate that Coinbase - heretofore one of the most exclusive major exchanges - will list a cavalcade of new assets, which the firm identified as one of its customers' chief requests. Ripple also added PNC Financial Services Group its network of users.

The bullish price development for XRP follows multiple positive regarding distributed ledger startup Ripple, the founders of which created XRP.

The last 24hrs have largely seen losses of 5% or more in the prices of the T0p 10 cryptocurrencies, giving back a chunk of recent gains. Since then, while many currencies dropped by 90%, Ripple lost around 70% of its total value since reaching its all-time high.

Over the past 7 days, the social media activity of keywords such as XRP and Ripple have increased significantly, likely due to the announcement that there will be a new Ripple product launched in October.

Ripple community members were reacting September 25 after the Wall Street Journal claimed co-founder Jed McCaleb had "dramatically" stepped up a sell-off of his XRP token holdings.

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Ripple, provider of the leading enterprise blockchain solutions for payments, announced today that its network (RippleNet) is now live in over 40 countries across six continents. At any rate, Ripple's avant-garde financial technology outpaces its competitors in terms of effective down payments costs, processing fees, and transparency, ensuring expeditious transactions across the globe.

XRP posted the largest gains of the top cryptocurrency markets rallying by 100% before violently retracing to post daily gains of around 50% during this writing.

"By opening up new corridors across North America, Europe, Africa and Asia, we're expanding the global footprint of individuals who can benefit from faster and cheaper cross-border payments", said Marcus Treacher, SVP of Customer Success at Ripple.

Can XRP Push Bitcoin Out of First Place? This is the highest XRP has gone to since mid-July, when the price was $0.51 before a steep slump of 43 percent until Tuesday, as tracked by CoinMarketCap. Investors seeking to trade XRP should first buy Bitcoin or Ethereum using an exchange that deals in United States dollars such as Gemini, Changelly or GDAX.

XRP is still a far cry from its all-time high, now reflecting an 89 percent depreciation from the $3.48 price point set back in January (XPI). As just described, this scenario is unrealistic considering the bitcoin price will continue to rise and new bitcoins will come into circulation. However, cryptocurrency markets are indeed full of surprises.

Bitcoin (BTC) is still ranked number one, with a market cap of around $116 billion.

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