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The XRP token is already officially ranked as the second largest cryptographic currency in the world in market value for the longest time since 2016.
On November 15, the market value of XRP, a crypto-key connected to the San Francisco Ripple blockchain start-up, reached $ 19.39 billion, enough to make it the second-largest cryptomeca after the switchover. Ethereum (ETH).
This 11-day period is the longest since XRP has been in second place since it's been holding the title for 13 days from January 26 to February 8, 2016.
In fact, the dominance rate of the XRP, an indicator that accompanies the percentage of the market value of cryptocurrency brought by the cryptocurrency, reached its highest level in 45 weeks with 12% on November 20th (it has since declined slightly to slightly more than 11%). For comparison purposes, the Bitcoin dominance rate (BTC) is currently 53%, while the Ether dominance rate, which is now the third largest cryptocurrency in the world, is 9%.
Remarkably, since the group started to increase its market share on Nov. 15, the wider cryptocurrency market has seen a massive sell-off, losing nearly $ 90 billion and 40% of its total market value nowadays.
The fall of the market has affected all crypto coins. XRP and ETH recorded respective losses of 22% and 37% over the 11-day period, while Bitcoin recorded a 32% decrease over the same period.
Despite the advance of the XRP in the market value classifications, the ETH recorded a much higher volume of transactions than in recent years. Over the past 24 hours, ETH's $ 2.47 billion in revenue is almost double the $ 1.3 billion in XRP.
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