As per confirmed reports, Ethereum (ETH) crossed Ripple (XRP), reclaiming its largest altcoin and 2nd largest asset position as on Wednesday, Jan. 2nd 2019.
2018 was a turbulent year for Ethereum, but 2019 looks promising. With Ethereum re-attaining its earlier dominant position, it becomes clear that the community and the traders are re-considering ETH. Most of this inclination can be ascertained to the upcoming upgrade on Ethereum protocol. The upgrade, which is already delayed, was to happen last year but it was pushed further to Jan. 2019 citing technology challenges.
Ethereum, which was at the 3rd spot for past several weeks suddenly plummeted up surpassing Ripple’s market cap by half a million, as part of a return to positive gains throughout the top twenty performers through Tuesday.
ETH’s skyrocketing follows the fresh controversy which surfaced recently, for both XRP and its payment relationship with Ripple. After the US crypto exchange Kraken publicly, in a twitter post, asked the XRP Senior executives to rename the crypto-asset to avoid ambiguity, there is much confusion in the industry, over Ripple’s capability to make executive decisions over the XRP.
Ethereum, which Justin Sun, founder of Tron, had publicly criticized for failing to capitalize on its development progress, gained 8.3 percent, making it the best performer in the top twenty cryptocurrency assets, while XRP just advanced 2.3 percent in the same period.