RATE Group | Ripple (XRP) Overtakes Ethereum As Second Largest Cryptocurrency On CEO’s Bullish Bet
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Ripple (XRP) Overtakes Ethereum As Second Largest Cryptocurrency On CEO’s Bullish Bet

26 Sep Ripple (XRP) Overtakes Ethereum As Second Largest Cryptocurrency On CEO’s Bullish Bet

Posted at 13:14h in Cryptocurrency News by

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Ripple (XRP) has powered back to retake its position as the world’s second largest cryptocurrency by total market capitalization — a spot it briefly took from ethereum at the end of last week before falling back.

Ripple has risen more than 100% so far this month as investors bet it will become the defacto way the world’s established banks and financial services firms move money across borders.

A visual representation of the digital cryptocurrency, ripple. (Photo by S3studio/Getty Images)

Ripple (the informal name of the XRP digital token) now boasts a market capitalisation of $22.2 billion, slightly beating out ethereum’s $22.1 billion, according to CoinMarketCap data at 8:30am New York time. Bitcoin, the original cryptocurrency, still holds the top spot by a wide margin however, with a total market value of $113 billion.

Ethereum, which is traded through the digital token ether, has been heavily sold off this year. Many believe this is because of…

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