Disruption In The Crypto Space AS Ethereum (ETH) Returns To Second Position

Devin Lawrence
September 30, 2018

According to the newly-announced plans by Ripple Labs Inc.

Looking at the ETH/BTC chart, it appears that ETH has broken out of the descending channel in which it has traded since mid-July gaining nearly 5% in the last day to now be trading for approximately 0.036 BTC.

As for the coins suffering from loses, XRP is at the top from the bottom while Ethereum (ETH) is also among the top loser.

TRON (TRX) traded 2% higher against the dollar and now trades at $0.0198 or 0.00000310 BTC.

Recently, a China-based investment firm BlockVC's manager Kiran Sun appeared on CNBC and predicted that the bears of the Bitcoin market will stay in the market for now. And, while I'm certainly not a shill for the XRP token (and quick disclaimer: I now hold none whatsoever), I can understand the case made for the cryptocurrency. The system was tested last May on running payments between the U.S. and Mexico. Granted, we're nowhere near all-time highs for the cryptocurrency that we saw in late 2017/early 2018 (above $3.00), but given the current market conditions in the crypto world, XRP has been doing phenomenally well. On one hand, the asset has stood as the cryptocurrency industry's third-largest entity for quite some time, after bitcoin and Ethereum. In other words, each day he moved and sold about 35 times the limit outlined in his 2016 agreement with Ripple.

XRP demonstrated a three-fold increase in price, with Stellar and Cardano mimicking the short-term trend of XRP. He argues that XRP investors do not secure a shareholder-like position when they purchase the asset. You've got to have high throughput. "While this is great news for many crypto enthusiasts and especially for XRP fans, it remains to be seen if the bullish trend will prevail, given the current market conditions that have seen almost all cryptocurrency losing around a great deal of their value since the beginning of the year".

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It seems that with this initiative, Ripple would be finally able to convince the community in the decentralized integrity of their native token XRP. However, this does not mean that more users will start to embrace XRP.

Is the XRP price rise due to positive news?

"XRP has been cleverly positioning itself to become a leading worldwide facilitator of global remittances and inflows".

The milestone was hit earlier today as new payment corridors opened up in North America, Asia, Africa, Europe and South America.

Moreover, with xRapid to be released in the coming months, the bullish scenario do holds a possibility. This is especially true considering a bitcoin price of $10,000 could be within reach if institutional investors enter the market, be it through Bakkt or a physical bitcoin ETF by VanEck and SolidX, for example.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information.

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