That's Ripple for any of you non traders out there.
The other day we saw LTC soar to massive numbers as investors flocked to different investments as bitcoin's rally slowed.
Likely to diversify themselves a bit with their massive bitcoin gains.
That rally briefly put LTC as number 4 on the largest crypto market cap list.
Today, we saw that trend continue.
Check out the chart of XRP (Ripple):
With this rally, XRP has now leapfrogged LTC and moved into 4th place on the largest market cap list for cryptocurrencies.
Currently it sports a market cap just over $18 billion.
Why is this happening?
A couple reasons are likely.
As was mentioned above, people are probably diversifying some of their bitcoin gains over the last several months into some of the other coins.
LTC was the first major one, but we also are seeing a rotation into Ether as well, and now XRP.
Ripple uses blockchain technology to develop a payments network for banks, digital asset exchanges and other financial institutions. XRP is the digital coin network participants use for transactions.
Hopefully at some point Steem joins the party and becomes part of this rotation!
Stay informed my friends.
Image Sources:
https://kejnav.deviantart.com/art/CRYPTO-HOST-Wallpaper-295242648
