Ripple Pushed Up to 3rd Largest Cryptocurrency By Market Cap: Ripple has surpassed Bitcoin cash in terms of market cap, now standing at 3rd position trailing behind Bitcoin and Ethereum. Litecoin has been dumped to 5th position. This shouldn’t be a surprise as XRP was one of the few major cryptocurrencies which didn’t see a massive pullback last week.
Meanwhile, Bitcoin had its worst week of the year, although temporary. After mainly consolidating most of 2017, investors finally showed interest in Ripple’s XRP in mid-December as its price went from a mere $0.28 to the all-time high level of $1.24. The cryptocurrency went from a steady consolidation to wild volatility. After seeing temporary pullbacks towards the 50% Fibonacci level of 0.70, XRP is now working its way back up to the all-time highs again.
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Based on Ripple’s strategic partnerships with big market players, and adding Morgan Stanley veteran Zoe Cruz, to its board of directors, we could expect XRP achieving new highs going into 2018. Now, this does not mean Ripple has a lower risk compared to other cryptocurrencies, or a chance of a bubble burst is not still on the table.