In Sept 2018, the native token of the San Francisco based technologygiant company, Ripple called XRP was able to to displace ethereum forthe very first time in the history of the world’s first smart contractcoin,Ethereum that supports the development of decentralizedapplications. However, ETH was able to regain its position before theend of 2018 but XRP has given ETH a new year gift by claiming theposition it enjoyed for the few months back.One would wonder some of the factors that factors XRP and the factorsthat are working against ETH.Some of the factors include:1) Binance stand on increase in XRP trading pair and changing ETH market to ALTS2) Disaffection in the camp of some ethereum miners3) More additions in companies that is accepting Ripplenet and XrapidBinance stand on increase in XRP trading pair and changing ETH market to ALTSIn a recent publication, the ethereum community came hard against thelargest crypto exchange in the world Binance, by claiming that theexchange received bribe from XRP to facilitate that, since evidenceshows that that ETH trading pairs have more trading volume than XRPtrading pair, but the later had been placed ahead of ETH. Thisincrease has given XRP to increase in adoption which in turn reducesits volatility while ETH that is now ALTS market had been sidelined.Disaffection in the camp of some ethereum miners This is not new to old crypto users, since some miners always reactagainst change. It had been seen in bytecoin and Monero performance inthe past due to opposition for and against ASIC mines. Mining activityis necessary to keep the ethereum blockchain happy. But thisdisagreement to decode all ASIC miners is not going well with someethereum miners.More additions in companies that is accepting Ripplenet and XrapidRecently, Brad Garlinghouse the CEO of Ripple announced that about 13new companies have subscribed to use its product Ripplenet, bringingthe total to 200, while 5 of the 13 had adopted to use Xrapid thatuses XRP as its base token for exchange.
At the time of writing, XRP trades at a price of $0.335879 and with a market capitalization of $13.784 billion while ethereum(ETH) trades at $128.51 and with a market capitalization of $13.404 billion.
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