XRP jumps Ethereum to take 2nd spot once again!

10 Jan, 2019
by Joeri Cant
Price Action
XRP jumps Ethereum to take 2nd spot once again!

The crypto market continues to bleed hard today. Close to $16 billion has been wiped off the charts today and this in just a couple of hours. Due to the bleeding, XRP returned to being the second largest cryptocurrency in the world after pushing Ethereum back to the third spot.

After only 8 days of holding on to the number two spot, Ethereum was, once again, leapfrogged by XRP.

Ethereum saw a massive recovery over the past month and a half, with the price surging to over $150 in 2019, however the massive sell-offs of today caused Ethereum to fall back to the third place.

Read more: Bitcoin tumbles below $3600, will we be seeing $3000 soon?

Ethereum is currently trading at $129, and has seen a major drop of 14%, with a marketcap that sits at $13.5 billion, $200 million below the market cap of XRP, which sits at $13.7 billion.

It remains to be seen how fast Ethereum can crawl its way back into the number two spot.

The leapfrog can be attributed to the 14% drop in price in Ether over the last few hours, with XRP seeing a 'smaller' decline of almost 9% in the same time frame.

The two major sell-offs of today are rumoured to be caused by whales selling off huge amounts of BTC.

However, it is impossible to confirm this at the time of writing.

Read more: Ethereum jumps Ripple to take back second spot in market cap

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