Third largest cryptocurrency by market cap, XRP is on a bullish trend for the last 24 hours, with 14.45% increase posted.
At a time when the crypto markets are showing signs of relative stability, XRP doesn’t mind testing the same levels that it tested over a little less than a month ago.
The press time value of Ripple XRP was $0.52 while market cap is back above $21 billion. In fact, this was the state of the crypto market at the time of compiling this report.
As you may have noticed, there is now only $500,000,000 gap between ETH and XRP, and if the bullish XRP trend continues, then we may see the two coins swap places for the second time in the space of two months.
When It Last Happened?
On Sept 21, the XRP total market cap surpassed that of ETH after Ripple Labs announced that it was going to launch a new product for financial firms. At that point in time, ETH was just recovering from a very bearish run and had a market cap that was $2 billion less than XRP.
As Coinfomania reported then, the value of XRP and ETH were $25.2 billion and $23.4 billion respectively. However, the latest surge in the value of XRP is surprising because the Ripple team have been relatively quiet in the last couple of weeks with no big news in the media.
Will XRP upset ETH once again and reach $1?