In recent months, XRP has proven to be the least volatile coin in the crypto market. Although this has been a good thing for holders when the market is dropping, this characteristic has turned out to be a double-edged sword. According to many, XRP seems to be underperforming when most major coins are soaring. One consequence of this has been Ethereum ETH closing down on the market cap gap.
In the last couple of days, Ethereum has been outperforming XRP, making massive gains of up to 18%. This impressive performance has seen Ethereum close down the market gap that was standing at over $1 billion, to what is at the time of press, a little over $500 million.
At the time of press, Ethereum is trading at $139 after reaching a high of $146 during the weekend. The coin was looking determined to hit its high of December 24 when it hit $155. Today, it is still recording marginal gains as it is still up by a little under 2%.
XRP, on the other hand, is at the time of press trading for a little over $0.36 and in the last 24 hours has seen a marginal drop of 1.7%. During the recent surge, XRP has only managed to hit a high of $0.38. This slow performance was despite a great performance on December 24 when the coin hit $0.44.
Over the weekend, XRP only climbed by 8%, which is less than half of Ethereum’s gain. If the trend persists and Ethereum continues to close down the gap, we could see it take back the title as the biggest altcoin.
Bitcoin BTC Price Analysis
The last couple of hours have seen the market undergo a price correction that has seen bitcoin drag back to the $3,800 position after initially soaring to highs of $3,950. The drop came after the coin was unable to break above the $4K position.
As the year nears the end, experts continue to double down on their prediction that 2019 will see cryptocurrencies soar again. According to Tone Vays, bitcoin trader and enthusiasts, part of this will be triggered by the realization that bitcoin has been in several times down in 2018 but is still not out (dead) like many previously predicted. If anything, the market has shown that it can survive any storm thrown at it and come out stronger. Should Tone Vays prediction be true, 2019 could be as great a year as 2017.