XRP News Today – As the bear market persists in the cryptocurrency sector, digital currencies observe mass losses in estimation. The past week alone saw mass obstacles for crypto giant Bitcoin, altcoins. Surprisingly, with the bearish trend move, the result in the ranking of these tokens has changed. Currently, there are only a minority of tokens with an overall estimation of $1B.
Ripple taking over Ethereum on the second spot in transaction volume was the biggest surprise of all, with Ripple’s overall estimation sitting higher than that of Ethereum. Although the difference between the two coins isn’t undefeatable, Ripple has so far continued to stretch its lead while Ethereum’s estimation keeps declining.
So far it has been a trend, whenever Bitcoin displays a decline in value, Ripple holds its own while Ethereum follows the descending route. It is safe to conclude that Ethereum is closely connected to the price movement of Bitcoin in the market.
The token over the years has recorded massive transaction growth. Ripple is targeting a different audience compared to Bitcoin and Ethereum, with the total growth in transaction volume, it is obvious that XRP is on the right track. Ripple’s XRP seems to be doing right by the market, as the growth of the blockchain over the years has superseded that of its competitors
Bullish News for Ripple XRP
Early this year, XRP recorded a massive increase in transaction volumes, so much that it has exceeded Ethereum, Litecoin, and Bitcoin. Although, in late 2018, Ethereum overtook XRP, currently, the table has turned completely as the past few months have seen Ripple in the news especially with its native token XRP.
With the company’s On-Demand Liquidity that was announced mid this year, it seems this has drawn more investors and could be part of what is influencing the increase in blockchain transactions.
This year has been good for Ripple, as there have been several growth and developments which has influenced the price of Ripple’s XRP higher. Commenting on one of the development, Ripple’s CEO stated that its technology can substitute Swift created bullish movement in the market for Ripple.
Also, Ripple’s xRapid is incomplete disposition mode commercially, several service providers are in the process of utilizing Ripple’s technology into their systems. Several XRP analysts believe that this kind of commercialization will only serve as a spur to influence the estimation of the cryptocurrency.