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Ethereum Price Puts Itself Second in Market Cap but XRP Has Much More Interest — Will It Grab Second Place Soon?

  • Jack Thomas
    🤷 Opinions

    There is a burgeoning rivalry for second spot between XRP and ETH, but these are very different coins with the former having a lot more interest

Ethereum Price Puts Itself Second in Market Cap but XRP Has Much More Interest — Will It Grab Second Place Soon?
Cover image via u.today
Contents

While Ethereum has remained second in terms of market cap for most of its lifespan, sitting as the first rival for Bitcoin as a new smart contract blockchain, it is in danger of being usurped by the current number three: Ripple and its XRP token.

However, even though XRP has found itself in second place in the recent past, this rivalry between the two coins under Bitcoin is a false rivalry as they have very different directions and niches. Though when it comes to interest, one is a clear leader.

Ethereum might be winning the popularity contest because its market cap is above $17 million and XRP has a market cap of around $13 million.

On the other hand, there is another metric used to measure the rival cryptos’ popularity that shows a different outcome: Google trends.

The popular Ripple

Google trends is showing that when it comes to worldwide searches, Ethereum is not nearly as popular as its faux rival, Ripple. But it is also important to note that when it comes to searching, Ripple and XRP are often used interchangeably.

Over the past 90 days, the two coins have followed a similar path as the crypto spring has pushed up the interest and sentiment, yet, on average, it is clear that Ripple is miles ahead.

The popular Ripple

There are a lot of things to consider when determining the worth or value of a coin outside its actual price, and while interest is not the be all and end all, it is an important metric to note. So, while Ethereum holds second spot, it is in danger of being overtaken by Ripple if the company is able to take that interest and turn it into market success.

Added value

Again, while the market cap rating of a coin is not the be all and end all, it is another aspect that does add value to a coin beyond its token value. There is lot of prestige and importance for coins to be in the top 10, 20, or indeed three of the market cap standings as it indicates success.

Ripple and its XRP token are perhaps more interested in chasing banking partnerships, but if they were to overtake Ethereum, their own value as a company would certainly rise. However, it would have to be a long-term overtaking rather than a fleeting one as has been the case before.

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About the author

Jack Thomas is a journalist from Australia who has had a long career writing about finance and technology. He has combined his enthusiasm for these two subjects and applied his writing to covering blockchain and cryptocurrencies in the past few years.

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XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange

  • Yuri Molchan
    📰 News

    A major XRP community member shares data that XRP is generating 80% of volume on Bitso exchange that is Ripple’s partner at introducing On-Demand Liquidity in Mexico

 XRP Currently Bringing 80% of Total Trading Volume on Ripple-Funded Bitso Exchange
Cover image via www.123rf.com
Contents

After Ripple had rebranded its xRapid product as On-Demand Liquidity (ODL) and partnered with the largest Mexican exchange Bitso, the introduction of ODL in cooperation with MoneyGram starts bringing its first fruits. As part of the collaboration, Ripple has invested in Bitso and got them to add one of its top executives to the board of directors.

 

On-Demand Liquidity successfully integrated on Bitso

A member of the XRP community @XrpCenter reports that things are looking good for XRP on the largest Mexican exchange Bitso and for Ripple’s ODL product. ODL was introduced there after the crypto giant invested an undisclosed amount in the trading platform.

The chart in the tweet shows that the XRP/MXN pair now accounts for 80 percent of the overall trading volume of Bitso.

Bitso became the key partner of Ripple and MoneyGram at introducing On-Demand Liquidity to the Mexican market. So far, the implementation has been going successfully.

This has not impacted the XRP price much though, since over the last 24 hours it rose merely by 0.54 percent. Unlike it, BTC and its forks – BCH and BSV – have posted much higher gains, as reported by U.Today earlier.

XRP price
Image via Coinmarketcap

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Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple Dispels XRP FUD Allegations, Q3 Report Blames Twitter Bots

Ripple releases its Q3 report

At the end of last week, Friday, Ripple issued its regular report on the results of Q3. In the document, Ripple covered several major issues, such as movements of XRP from escrow and back to it, recent Ripple’s partnerships with Logos, Algrim and other startups, Coinme crypto ATM network.

Ripple also addressed the issues of FUD (fear, uncertainty, doubt) that has been recently actively spreading around the company and its XRP asset.

Ripple Q3 report
Image via www.ripple.com

What are your thoughts on the Ripple expanding XRP use in Mexico? Share them in the comments section below!

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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