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Ripple’s XRP Overtakes Ethereum ETH Second Position Amidst Market Plunge

XRP USD

Upon Bitcoin‘s [BTC] drop below the yearly lowest, the market follows and deep dives in the red leaving many HODLers speechless as the anticipated breakout went the wrong way. Among all leading coins which are experiencing double digit drops, the speedy XRP is only 8.00% in the red for the last 24-hours, which concluded with the digital asset overcoming Ethereum‘s well cemented second position and stand only behind Bitcoin.

Ripple XRP

Related to the price-decline, read:

Bitcoin (BTC) Crash! Price Plummets to One-Year Low as Cryptocurrency Market Sees Red

Per time of writing, the pair XRP/USD is changing hands just below the important $0.5000 at $0.4681 which is a similar case for all coins.

Latest Regarding the Leading Coins

Ethereum – During Devcon4 [most important event on Ethereum’s yearly calendar] Ethereum 2.0 or Serenity was mentioned and talked about on various points when it comes to the network’s scalability issue:

“Contains various new radical ideas. Part of it is around a move from Proof of Stake (POS) away from POW. And the other big idea is sharding, so scalability — having a thousand shards compared to just one shard.”

Ethereum 2.0, Pure Casper and Never Seen Before Scalability – Vitalik Buterin

Co-founder of the second largest coin – Vitalik Buterin, spoke about the most anticipated upgrade – Ethereum 2.0 project Serenity during the Ethereum developer conference Devcon 4 in Prague. According to Mr. Buterin, the project encircles various features that the team have been talking and working about for three-four years now.

“…combination of a bunch of different features that we have been talking about for the past several years. We have been actively researching, building, and now, finally getting them all together.”

XRP – During a talk with Bloomberg TV – Brad Garlinghouse, RippleLabs CEO, highlighted that his blockchain based company is able to gain customers at a fast rate relative to the market because financial firms are looking for faster, more modern technology than what is currently offered through entrenched fintech company SWIFT.

“The technologies that banks use today that Swift developed decades ago really hasn’t evolved or kept up with the market…Swift said not that long ago they didn’t see blockchain as a solution to correspondent banking. We’ve got well over 100 of their customers saying they disagree.”

Alex Tomzack
About author

Alex Tomzack is a crypto-enthusiast and has been fascinated since first hearing about it. Loves technology, writing, culture while being a regular trader and holder of digital assets. Email: alex@ethereumworldnews.com
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