Ethereum

Cardano

Bitcoin

XRP is on the brink of hitting its all time low compared to Ethereum (ETH), marking a significant downturn in its value relative to the leading altcoin. Earlier today, XRP/ETH plummeted to a mere 0.000184 on Binance, as perreports. 
The token associated with Ripple, XRP, witnessed an astonishing surge in September 2018 thereby outperforming Ethereum to become the world’s second-largest cryptocurrency by market capitalization. Consequently, this change was driven by investor bullishness that foresaw Ripple becoming the new international banking system. Things don’t look good for XRP 
Back in 2018, XRP’s market cap amounted to $22.2 billion, however, it surpassed Ethereum (whose market cap stood at $22.1 billion) for a short while. According to reports, now <a href="https://news.todayq.com/ethereum-set-for-high-correction-amid-its-3k-triumph/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> has a market capitalization of $361.2 billion whereas XRP’s market cap is $29.8 billion. Clearly, Ethereum’s market capital is much higher than that of XRPs.
Just as before, Bitcoin remains the leading cryptocurrency by market cap while Ethereum upholds its spot as the second-largest digital money.
Within the crypto community, there have been numerous conspiracy theories generated due to the underperformance of XRP against ETH. In other words, some advocates of Ripple say that SEC may be biased towards Ethereum and hence granted it a “free pass” but chose otherwise for XRP. Baseless theories 
These theories lack foundation, are often shared on social media and cryptocurrency forums. The narratives suggest unethical conduct by Ethereum’s supporters influencing the regulatory decisions of the SEC without concrete evidence. This narrative has caught on despite repeated calls for evidence-based discussions.&nbsp;&nbsp;
In response, critics including Cardano creator <a href="https://news.todayq.com/charles-hoskinson-stormed-on-twitter-user-claims-thousands-of-assets-live-on-cardano/" target="_blank" rel="noopener noreferrer nofollow">Charles Hoskinson</a> have rightly noted that there is no proof supporting these claims and that a dose of sanity needs to be injected into conversations in the space again.
As of the writing, Ethereum (ETH) is trading at $3,008.42, marking a 2.34% increase over the past day. Whereas, XRP’s price stands at $0.547, showing a marginal increase of 0.07% over the past day.&nbsp;
The global market cap has risen to $1.98T, up by 1.01% in the last day. However, trading volume dropped by 6.54% to $84.15B. Bitcoin’s dominance slightly decreased to 51.41%, indicating a potential diversification among crypto. However, the future course of XRP remains doubtful and rests on a number of things such as regulatory outcomes and market dynamics. Therefore, as this space evolves, players must focus on being transparent collaborating while making evidence-based discussions to navigate the intricacies of the cryptocurrency market better.
Get Crypto Trading Signals from Real Crypto Analysts. Join our Waiting List at todayq.com

XRP hits new lows against Ethereum, What’s behind the downturn?

Todayq News

Other articles published on Feb 22, 2024

Polygon (MATIC) Price Surges Past $1 Mark, Traders Bet on Algotech to Hit $2 First

Analyst Forecasts Altcoin Price Boom With Ethereum ‘Dencun’ Upgrade, Unveils Top Choices

Access Early VC Crypto Gems via Common Wealth Airdrops

Polygon (MATIC) Price Analysis and Predictions

Galaxy CEO Cautions Bitcoin May Fall To $42,000 Ahead Of Major Rally

The Famous Company, Predicting $148 Thousand for Bitcoin, Says "Strong Bull Rally in BTC and Altc...

Join our free newsletter for daily crypto updates!