As I was trading on Poloniex today, ETH continued it's beautiful rally.
I saw the life get sucked out of XRP (Ripple coin) and watched ETH prosper. But upon taking the number 2 spot for the Crypto Market Cap, something strange happened.
XRP came back, without much (if any) decline in ETH or BTC, AND took #2 Market Cap right back.
So, If ETH increased rapidly while XRP did the exact opposite, why didn't ETH decline when XRP started to pump back up?
I have some Ideas.
- Trading on Kracken:
Ripple is good at making these type of power moves. Yesterday Kracken (European based exchange) announced that XRP was able to be bought directly with 4 fiat currencies (EUR/USD/JPY/AUD).
I'm U.S. based, but was pretty happy to get this email:
- Trading on Bitfinex:
Out of the blue, Bitfinex announced yet another way to go from fiat to XRP. But this time it was a US based exchange, Bitfinex. This is now the easiest way for a crypto-novice to go from USD to XRP. It may not be as simple as Coinbase, but it sure will generate more momentum for XRP.
- Who Knows?:
I'm literally asking if anyone else has any ideas about this. This has been the strangest month I've ever seen in crypto and would appreciate some insight in the comments!
Also, it's so neck and neck right now, by the time I post this, ETH may again surpass XRP:
Which is fine, I think they will eventually compliment each other and hope to see the future of both coins!