For the first time since December of last year, the Ripple currency of the Digitatrl Native – XRP (XRP) surpassed Ethereum (ETH) on September 21. However, the so-called flipping of XRP didn’t last long, since Ethereum (ETH) registered a 17% increase in value due to its market capitalization of around a $3 billion increase. Smartereum reported that there is a rapid increase in the value of Ethereum (ETH), which allows it to overtake and claim XRP’s second position in the list of major digital currencies.
In December of last year, XRP exceeded Ethereum (ETH) when the value of XRP initially increased to $ 1.5 and also had a maximum of $3. Even when XRP was at its all-time high, the flipping moment of XRP didn’t last. Ethereum gained momentum and its market capitalization rose billions of dollars.
Trends like this when Bitcoin Cash (BCH) overtook Ethereum (ETH) after reaching the $ 5,500 mark. After a few weeks, Ethereum (ETH) found its way back to global numbers and kept them in the digital currency market and the dominant digital currency.
Ethereum (ETH) has recovered in the past few hours and has seen its market capitalization rise by $ 3 billion.
The fundamental reason why XRP dropped was Due to the enormously oversold conditions, an increase in their trading volume, many investors have participated in the the due to FOMO, which has created an effect on the major trading platforms.
XRP needed room to breathe to avoid a massive short-term decline due to oversold conditions. In the short term, however, it is unlikely that XRP will surpass Ethereum (ETH) again.