Ripple’s XRP Price Analysis: XRP/USD staging bigger recovery versus its peers
- Ripple overtakes Ethereum as the 2nd largest cryptocurrency by market cap.
- CIMB Group earlier this week, latest partner to leverage Ripple’s technology.
Ripple’s XRP most recently leaped over Ethereum, as the second largest cryptocurrency by marketcap, according to Coinmarketcap.com data. XRP at the time of writing has a market cap of over $19 billion vs. Ethereum behind at $18 billion.
In the midst of the chunky selling pressure that rippled across the market, Ripple’s XRP held stronger ground in comparison to most of its peers. This not being too surprising given the positive news flow that continues to surround the Ripple.
Earlier in the week, Ripple added another strong banking partnership, seeing CIMB Group, as the latest financial organization to utilize their technology. There isn’t too much in the way of barrier for the bulls to reclaim the $0.5000 mark. Further north, eyes would be on a move back towards $0.5500.
XRP/USD daily chart
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
