The market is evidently dipping in daily and weekly charts. Ripple’s XRP went below the value of 0.50$ with over -10% of losses in the course of the last 24 hours on November 15th.
However, the dips made it possible for XRP to touch the spot of the second largest currency right after Bitcoin (BTC).
This is the case because even though XRP is dipping, Ethereum is going down at an accelerated pace, going far below the value of 200$ and touching a new low of 177$ despite the most recent gains.
XRP Dips: Ripple’s XRP Becomes the Second-largest Cryptocurrency
The market is seen in a horrific decline, especially during the last 24 hours when the majority of cryptos including the top 20 live trading currencies are dropping by over -10%.
Bitcoin alone dropped by -11% in the course of the last 24 hours, while Ethereum is down by -13% within the same timeframe.
Even though the dips and drops are ruling the day, XRP is still benefiting from this state in the market in a way. This is the case because Ripple’s currency finally went over the value of Ethereum, surpassing it by its market cap.
Ripple (XRP) – weekly chart – Coinlib charts
That is how with 18.36 billion dollars, Ripple’s XRP had a great chance for becoming the second largest cryptocurrency, as Ethereum went down to touch the market cap of 18.34 billion dollars.
The difference between the two is still close apart, so there is still a strong possibility that XRP will decline back to the spot number 3 in case ETH manages to rebound before XRP does.
For now, XRP is holding the spot of the second largest cryptocurrency, while the market is dipping at a great speed with today’s persistent dipping trends.
The Market is Dipping at an Accelerated Rate
Losses are more than evident today on November 15th with all major currencies dropping by more than -10% each in the course of a single day.
Bitcoin Cash alone had lost -17% of its value in the last 24 hours, once again representing one of the top losing cryptos of the week among the top 20 list of currencies with a drop of -27% against the fiat.
Cardano (ADA) dropped by -16% in the last 24 hours, losing -20% of its value in its weekly chart.
It seems that the top 20 cryptos are having a rough time with bouncing back up with today’s market trends; however, XRP still managed to take advantage of the situation and climb one spot up the top list of trading currencies.
However, it yet remains to be seen whether XRP will stick around the spot of the second-largest crypto or drop back down to the third spot on the list.
While XRP didn’t drift far from its value of 0.50$ now being traded at the price of 0.45$, Ethereum touched a new low of 177$ which could suppress it to another major dip.
Moreover, Ethereum is seen in an attempt of recovering in the last hour at the time of this writing, taking 0.35% of gains as the crypto is trying to bounce back up.
Image credit: TokenTops
