Few hours back, the crypto space was filled with chants for Ripple’s (XRP) success while the altcoin remarkable displaced Ethereum (ETH) from the second position in the table. As an addition to the chants and chitchats that filled the space, reputable persons and who’s who in the crypto globe like Justin Sun, founder of Tron, began to applaud Ripple for its triumph over Ethereum.
Afterwards, it all seemed like a magic or a staged scene as Ethereum took back its position from Ripple few hours after the latter had surpassed the former with over $3 billion market cap. Really, the previous Ripple’s market bullishness which placed it above Ethereum wasn’t a magic, and neither is the latest one.
According to Coinmarketcap, contrary to the 78% 24hrs market value change which Ripple possessed previously, the altcoin is at the moment on the upside with about 55%, and its market cap. stands as $22,776,565,607.
On the other side, Ethereum’s value in the last 24 hours is upped by about 8.3%, and the market cap of the altcoin is $23,285,502,558, and it is ranked second in the table with a market capitalization which is now more than Ripple’s
Previously, Ripple’s market cap had been more than $26billion when it was rising by 78%, but due to reduction in the rate of value rise, the market cap of the altcoin went down.
The Margin Between Ethereum’s (ETH) Market Cap. And Ripple’s (ETH)
After a proper analysis of the market cap. of the two giant altcoins, it is clear that the margin between the two is not much -508,936,951 (less than a billion), compared to the $3billion margin which was achieved previously.
Due to the acute margin, many have opined that Ethereum will only sit on the second position temporarily, as the space surely belongs to Ripple.