Ripple 'Flippens' Ethereum, Now it's the World's Second-Largest Crypto

Muriel Colon
September 30, 2018

The remaining 5.3 billion XRP were placed into a custody account controlled by Ripple and distributed to him on a daily basis.

"We are betting XRP ledger and XRP as the digital asset of choice where we are talking about the blockchain component of this internet of value". There was a break beneath the $235 level also, yet Ethereum price discovered support close $232. While the price move was reflected to a lesser extent on other sites, BitFinex's markets managed a dip of over $200 in one big sell-off flurry at around 6pm on Friday evening (GMT+1). But what exactly has been causing this drastic price gain? Ripple's announcement wasn't another typical announcement that carried no weight and seemed like it merely for show or hoping to "hype up" traders in a self-serving attempt to inflate the price of the cryptocurrency. According to a blog post on the official Ripple website dated September 19, 2018, PNC Bank, a top ten bank in the United States has joined RippleNet, and will now be able to give its customers access to Ripple's services including sending and receiving instantaneous cross-border payments.

Ripple (XRP) continues to trade positively on the recently launched RippleNet, a decentralized global network of financial institutions that is now active in over 40 countries. Financial institutions serviced include payment providers, remittance operators, banks and other financial institution processing real-time clearing and settlement of worldwide transactions.

Ripple's Chief Technology Officer David Schwartz stated three months ago that it is highly unlikely that banks and other financial institutions would make use of the blockchain technology at the moment.

Ripple price is placed in a positive zone against the US Dollar and Bitcoin.

Recently, Ripple was the subject of a class action lawsuit filed in San Francisco by Ryan Coffey, an investor in XRP. Ripple is also considering entering the Chinese market.

PNC now boasts more than 8 million customers and is located across 19 states. What's more, the fundamental difference between xRapid and xCurrent could have a bearing on the price of XRP. Perhaps future partnerships and improvements in the usability index of the XRP in real time transactions might lead to a further uphill. Volatility and regulatory uncertainty were among the top ones.

The dramatic XRP rally drove Ripple to overtake ETH to rank as the 2nd largest cryptocurrency by capitalization for the 3rd time in the last 18 months.

"I think it depends on how you understand the market structure". Of course, there will always be a place for cryptocurrencies like Monero and other privacy coins that insist on the benefits of cryptocurrency over traditional fiat for the sake of privacy, anonymity, decentralization, etc.

The optimism spread, dragging the rest of the crypto-space higher on the week. This time, we can clearly see that this is not the case.

People can get XRP on exchanges such as Kuna, Bitstamp, Bitsane, ZB, Qryptos, BitFlip, and CoinEx.

Ripple was the standout performer during last week's big crypto resurgence.

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