As we reported a few days ago, Ethereum was gaining great ground over XRP and as we predicted, it was just a matter of time before XRP succumbed to Ethereum’s pressure. In the last 24 hours, we have seen Ethereum overtake XRP for the number two spot in the crypto market. This spot was initially covered by Ethereum before it was taken by XRP after several attempts in 2018.
After a tough end of the year 2018 for Ethereum, this is the best possible start to 2019 for it. The coin has not only managed to steer clear of XRP with an $800 million market cap difference at the time of press but has also soared by 12% in the last couple of hours. Among the top 20 coins, Ethereum’s surge is by far the strongest. The surge further extends the coins gains that have come in the last couple of days seeing it climb from under $120 to over $150.
Ethereum will definitely begin attracting more investors following the successive trend and there is every reason to be optimistic of the coin. In the coming hours, the bulls will continue pushing prices and will look to retest the $160 position. In case price corrections sweep in, this could see the coin fall to a little over $141.
As we had reported, the overtake comes after an impressive run by Ethereum and a disappointing run from XRP. While Ethereum was being able to hit gains of up to 18%, XRP was only managing half of this. A point and case of that is today’s surge where Ethereum is up by 9% and XRP is just up by a little over 2%.
Bitcoin BTC Price Analysis
Bitcoin, on the other hand, is still held up in the $3,800 position; unable to surpass it, this position has in recent days become one of the more stubborn positions for the coin. The position has become a retracement position which has followed unsuccessful attempts at the $4K resistance point. However, despite the frustrating times, the crypto leader is today recording marginal gains of a little under 2%. In the coming hours, the positive momentum around the market could see the coin take a swing at the $3,900 position.
With the start of the new year, bitcoin has been showing great stability that could play vital for it if it is to go on and soar early on in the year.