Ripple surpasses Ethereum again to become the second largest cryptocurrency by market value

Last week, blockchain transfer token Ripple briefly held the second place on CoinMarketCap, but the rebound in the market value of smart contract pioneer Ethereum has once again consolidated its position.

This once again proves ETH’s resilience and its ability to rise to challenges. Before, no one thought there would be a ranking battle between these two cryptocurrencies.

Comeback

However, just when everyone thought that Ripple’s ranking had settled and it was impossible for it to surpass ETH’s second place that it had held for many years, Ripple “beat” ETH again.

Earlier this week, ETH was down 1.81% while Ripple was up 5.26%, making the transfer token the second most valuable cryptocurrency. (At press time, Ripple still ranks second.)

When Ripple climbed to second place on CoinMarketCap’s rankings last week, analysts linked its price growth to the formation of the Japanese banking alliance.

Whether the current rise in the price of Ripple is related to the opening of the Dash-Ripple gateway channel remains to be verified. What is important is that most banks believe that choosing the Ripple blockchain is a wise choice and affirm its efficiency.

Stage a war?

There are signs that a war is quietly underway between ETH and Ripple to determine who can stabilize the world's second-largest cryptocurrency. This will be an "epic" war, and neither side has shown any weakness at this critical moment.

Ripple looks shaky, while ETH looks like it could easily close the gap and overtake Ripple to reclaim the second spot after adding $200 million to its market cap last week.

For ETH to regain the second place, it needs to maintain its current pace of development while making a breakthrough. Currently, the gap between ETH and Ripple’s market capitalization is about $60 million.

As more and more organizations and institutions join the ETH platform smart contract service, the development of this cryptocurrency will not stop.

Similarly, many financial institutions have chosen to use the Ripple blockchain for faster and lower-cost transfer services.

It is precisely because of the characteristics of the above two cryptocurrencies that they compete with each other. In the final analysis, both have contributed to the development of the cryptocurrency ecosystem.

Ripple is still in the lead, but whether its leading advantage can be maintained remains to be seen.