Ripple now ranks as the second most valuable cryptocurrency on the planet.
After another strong surge this morning, Ripple again climbs to number 2 in the world crypto ranks.
Check this out:
As you can see, Ripple is worth $24.3 billion while Ether is now worth $24.1 billion
As you can imagine, as time goes by we will probably see some flip-flopping in rankings with those 2 due to how close they are in valuation.
In fact, Ripple has passed Ether 3 times now in the month of September alone.
By the way, if you are new to crypto and not quite sure what coin I am talking about, Ripple's cryptocurrency is called XRP.
A sign of things to come?
I would say yes and no.
Ether has enjoyed being in the second position pretty much ever since it was created.
I envision that may not last forever.
And that is not a shot at ether as much as it is a belief that the best blockchain technology hasn't even been invented yet.
The current coins of today will likely be relics of the coins 5 years from now, unless the chains can continue to upgrade along the way.
Either way, it will be interesting to watch as the different coins jockey for position over the coming months and years.
The big question will be, how long will bitcoin remain number one?
Stay informed my friends.
Follow me: @jrcornel
i will not be surprised if Ripple even will be first in a year time
Now that would be something. I can't see it displacing/dethroning bitcoin though.
@mrme1984 being 1st is a not possible what I think because BTC is mother currency and replacing it is a not possible. this is what I think.
I agree.
As long as Bitcoin (BTC) is the base currency of majority of larger exchanges, replacing it will be next to impossible. In few years due to stricter regulations we can expect to have more exchanges that list only CryptoNote coins and on those exchanges base currency might be Monero or some other/new coin if community loses faith in management of Monero.
We might see some of the regulated exchanges pop up with mostly fiat pairs as well. If that were to happen we would finally break much of the correlation between bitcoin and everything else.
The problem with fiat pairs is that some exchanges still have high minimum trading limits. Bittrex for example has 1000 USD minimum limit before you can withdraw.
Yes, but those will likely go down over time. If one exchange starts dropping them, then all the business will go there and force the others to drop as well. A race to the bottom that benefits retail. :)
At least Bittrex has nasty way of forcing people to use their exchange... They limit both BTC and FIAT withdrawals... It's hard to find altcoin, that has low enough fees, that is also listed on another exchange.
A lot of people are trying to say Ripple is poised to permanently take the number 2 spot. Isn't it a lot more obvious that Ethereum is simply undervalued right now from the ERC-20 selloff?
XRP is one of the worst coins right now from a decentralization perspective. There are 40 billion coins in circulation and Ripple Labs controls another 60 billion behind the scenes.
The blockchain wants to destroy the banking sector, not bring them to the table. Hopefully, XRP becomes a Trojan Horse for fiat, instead of vice versa.
I think a fabric/platform coin will more likely be the second most valuable coin at some point. Though I am not sure it will be Ether. There are some serious problems with scaling over there that aren't entirely clear how they will solve them. Either way though, I'd say yes when things are more accurately valued a fabric/platform coin will be the second most valuable coin, possibly the most valuable coin. Though I think bitcoin will always be up there as a store of value.
BTC will always be the King 👑
I tend to think that as well. Whatever it doesn't do well currently, they will eventually update/upgrade it so that it will in the future. It is easier said than done with it being decentralized though.
crazy where XRP is going
Yep. It is one of the few coins that is actually being used by real businesses currently.
Any coins that can move bitcoin will have a backup so huge that the crypto world will be moved by it.
One more thing that crypto will be a reserve for crypto.
Keep on postin’
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Not sure what you are saying here, but it sounds positive. :)
Well the second position is getting quite bumpy for ETH ;)
looking good for XRP though at least it is giving out competition ;)
Very true. I'd like see steem give someone some competition somewhere.
While interesting to see I think it would be expected as the majority of the capital coming into the market is from institutions which are centralized in nature and that is what Ripple is doing for XRP as they are taking a somewhat hybrid approach to the cryptocurrency space. However, what is interesting is that given the structure that Ripple used to deploy (and retain) the XRP token, there are uncertainties regarding its regulatory classification as some say it is a security.
Correct. It certainly looks like a security to me, which is why I have been hesitant to hold very much of it currently. Good point about institutions though. The ones from the US will pretty much only be buying bitcoin, at least at first.
bought some back when it was around .20 ... perhaps I should've held on?😂
Does this mean that you sold it already? I won't even tell you how I managed XRP as a trade... ugh.
yes I did, a long time ago not exactly sure when but it seems it's been going up ever since? lol 😂
This question I asked also a couple of times on Steemit and musing-io and not too many believe it will always remain the no.1 crypto. I also believe that at some point in the near future Bitcoin will be sent to the second place of the crypto charts. Who knows, maybe ripple will be the one to do that with all the hype around it and the launch of xRapid right around the corner. Till then it's still the king and nothing seems to threaten it.
I tend to think it may not always be number 1, but I think it will remain number 1 for the near future at least.
@jrcornel Ripple (XRP) doing amazing now a days. It was doing earlier also but Now so many good updates are giving. and I hope it will still rise more.
Yea I bough it on it's last run up, wishing I had bought it again on this dip. I bought it somewhere around $.85 or so and I believe and sold it around that level as well after watching profits slip away as it ran up over a dollar.
Bitcoin has showed more staying power than I expected. I thought its time was over when the transaction costs skyrocketed along with transaction times. But so far they have managed to pull the rabbit out of the hat. There is no doubt that it holds the most trust in an unloved asset class at the moment. I will keep my bitcoin :)
When it's dominance level was dropping like a rock in January I seriously started to think it may lose it's spot as top dog. Now though, I am more convinced than ever that it will be there for a while yet still. It's been there 10 years and counting...
@jrcornel I always follow this cryptocurrency, which surprises me that it is one of the zinc coins more important, its value was never very significant, if I'm not wrong I never get to surpass the $ 5 dollars
Correct. It has never had a very high dollar price, but it's market value has always been large. That is due to there being a large number of coins in circulation.
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Cool, thanks.
XRP shitcoin !))))
Thanks.