Ripple briefly takes #2 on Coinmarketcap

Coinmarketcap, which has become a trusted source for those who want to check the most capitalized cryptocurrency and get to know the current price of cryptocurrencies, has seen a brief but major shift today. Ripple, the cross-border-focused cryptocurrency, with its protocol created in 2012, has lately demonstrated good growth connected with close ties of the team of this altcoin to big Asian banks. This growth and the investors’ attention resulted in this cryptocurrency battering Bitcoin Cash, driving it out from the third place (and before Bitcoin Cash arrived, Litecoin was number three). Today, however, the wave of optimism has not ended, which resulted in unprecedented second place for Ripple on Coinmarketcap.

This situation demonstrates that the support of institutional investors is always beneficial, even though they might be conservative at times. Due to the fact that it was the banks of South Korea and Japan recently voicing support for Ripple’s payment system, the traders from these two countries were the main accelerators of the price growth.

Ethereum’s team might consider doing something in response to this event, as they have always positioned this cryptocurrency as a transparent financial instrument with the blockchain useful for banks, and now someone is clearly catching up with them, while having almost the same narrative. The real battle of the upcoming year, this means, is going to be for the second place after Bitcoin, and only then we will see which is better - the winner of this second place or Bitcoin.