Ethereum(ETH) has reclaimed it’s position as the second largest cryptocurrency, pushing Ripple(XRP) back to the 3rd spot, accompanied with a $200 million lead on XRP’s market cap. XRP held to the 2nd spot for a good one month.
TCU reported on February 5th, that Ripple had unlocked $1 billion from their escrow accounts. Out of which 800 million dollars were locked but 200 million dollars were in circulation. With analysts at TCU calling it a move to upscale XRP’s market cap.
Further, it was predicted that XRP is on the verge of a major breakout as the price eyes a break out of the descending triangle it has been trading in since the beginning of the correction of smart contracts.
Upcoming Pump and Dump or Will Ripple Break all Records? https://t.co/oeDc4MLBQ4
— The Crypto Updates (@TheCryptoUpdat1) February 5, 2019
Will Ripple Cope up ?
Presently, XRP is trading at $0.30, with a market cap of $12.5 Billion.
On the other hand, ETH is currently trading at $122, and is up 2.41%, with a market cap that sits at $12.7 billion.
This comes as a shock to XRP holders as it was expected that Ripple would shoot high, after signing partnerships one after the other.
Only time will tell whether these gains turn out to be a bullish indicator or a dead cat bounce.