What's Up With Ripple?
And now it's completely the opposite!
In fact, Ethereum is almost TWICE the market cap of ripple! Just check out the coin market cap.
Ethereum Market Cap: $130 Billion
Ripple Market Cap: $71.6 Billion
Market Cap Switcharoo
In just a week, things really reversed fast - contributed by a fall of some 45% by Ripple at the same time that Ethereum reached towards new highs around $1300-$1400.
From the looks of it - it looks like there's a lot of space in between the ranks of each of these coins.
We have:
- Bitcoin: $230B
- Ethereum: $130B
- Ripple: $76B
- Bitcoin Cash: $43B
- Cardano: $21B
I don't see the top 5 rankings to change much in the coming weeks.
Ethereum is a much stronger platform with many businesses built on top of it. Ripple really had a bunch of hype - many top crypto experts including @SatoshiLite - the founder of LiteCoin - don't consider Ripple as a true cryptocurrency.
Ripple's got lots of centralized features - the founders hold the majority of the coins outstanding - and plus, they service banks - the evil guys.
So it makes total sense for Ethereum to be in the #2 spot, not Ripple.
What do you think? Does Ripple deserve to be bigger than Ethereum? Which one should be #2?
Chart Analysis
Honestly, did not expect Ripple to fall this much from the highs.
From an Elliott Wave perspective, I do see what appears to be completed downside - so I do see $1.60 holding in the near term.
But then again, it hasn't bounced as it should - so I would say any rally towards the highs should likely be sold as I don't see Ripple making new highs in the next few weeks.
Best guess is we hold $1.6 - make an attempt towards $2.4 - and pull back down.
Some Resources
$10 Coinbase Signup Link: https://www.coinbase.com/join/52d09ba5665390110c000076
Secure your coins in a physical storage unit for more security: https://www.ledgerwallet.com/r/3ce6
Want to buy altcoins? Use Binance: https://www.binance.com/?ref=12686017 - Most popular altcoin platform based in Asia
or Use KuCoin: https://www.kucoin.com/#/?r=1tMuc - they have a better interface and have a slightly different selection of coins - based in Hong Kong