XRP is leading the pack in being the more stable cryptocurrency in the market right now. It has countered the market’s movements, whilst also taking 2nd place in the highest market cap.
Ripple has solidified its position as one of the top cryptocurrencies by overtakingĀ ETHĀ as the second largest market cap at close to $14 Billion, which is well short ofĀ BTCĀ market cap at around $65.5 billion. Its rise has been attributed to the quick falling price of most others cryptocurrencies, whilst its losses have remained relatively small in comparison.Ā
One important factor to note is that at this point in time, whileĀ BTC andĀ ETHĀ lose value,Ā XRP trading price againstĀ BTCĀ rises, and according to online sources, is indicated a possible rise inĀ XRPĀ price as more investors see the value in trading the bank backed currency.Ā
Other cryptocurrencies
The biggest loser from the top 10 currencies has again beenĀ BCHĀ (Bitcoin Cash) which has suffered heavily from the hard fork.Ā BSVĀ (Bitcoin SV), which is the hard fork representative of Satoshi’s Vision for Bitcoin, had made very good headway over the weekend, but again has found resistance in going over the $100 mark, and again hovers around $90. It is interesting to see if the latest fork could prove more attractive than its counterpart.Ā
False Positives and Hope
It is very interesting to also hear amongst many forums that many still believe that a Bull Run, i.e. a string of % days that increases the value of the coin dramatically as we saw at the end of 2017, is just round the corner. I do not believe this bearish run is over, and this false positivity is quite remarkable. There are still supports in the major cryptocurrencies that will be tested, and I also expect a couple of breakthroughs, but we are still well away from the market recovering and reaching the lofty heights it held back in the beginning of the year.Ā
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