Market Analysis

XRP dominates ETH once more with 7 percent rally; BTC shows stability

XRP dominates ETH once more with 7 percent rally; BTC shows stability
Oct 1, 2018 by Rico Wise

Ethereum’s market capitalization stays a little behind Ripple’s with its 24.15 billion US dollars. According to the indicators showing that XRP’s volume is weak, there is a high chance for Ethereum to restore its position as the first dominant digital currency after Bitcoin in the upcoming future.

This is the third time XRP dominates ETH this year, and all of the occasions took place in the 2nd half of September. After a 3x price growth, most of the financiers awaited XRP to retrace and encounter a slight correction because of the cryptomarket’s oversold conditions.

Still, Ripple keeps quickly enlarging in price, providing a decent competition to the ETH currency in the fight for the second place in the worldwide ranking of digital currencies.

On the last days of September, the cryptomarket looked like it was about to begin a substantial corrective surge, with BTC currency exceeding the 6,700 USD level and approaching 6,800 USD mark. Nevertheless, Bitcoin ended up dropping to the level of 6,500 USD instead.

So far BTC displays momentum in the middle of 6,000 area, with cryptotraders believing that there is a high possibility for BTC to lead a positive trend in the upcoming future.

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