In the last days there was another short-term “bloodbath”, which caused a strong drop in the price of almost all crypto currencies. For now, however, the market seems to have calmed down. Meanwhile, XRP Ethereum has finished second in the ranking of the largest digital currencies.
Kryptomarkt experts attributed these developments to the uncertainty surrounding the Bitcoin Cash Hard Fork, which has caused many investors to sleep restlessly. Meanwhile, it seems that some calm has returned and prices are stabilizing.
It is noticeable that XRP placed overnight in front of Ethereum and can now claim second place. XRP’s market capitalization is nearly 500 million higher (16,765 billion euros) than Ethereum’s (16,294 billion euros).
Ethereum couldn’t always keep the promises they made lately, Ethereum developer Justin Drake had to admit that too. Ripple, on the other hand, has continuously been able to attract new partners to its xCurrent, xRapid and xVia software solutions in recent weeks. More and more banks from all over the world have recognized the potential of blockchain technology and are testing the application possibilities in their own companies for cross-border payments. Only the day before yesterday another large bank from Asia joined RippleNet.
Brian Kelly: Bitcoin Course drop only of short duration
CEO of the crypto investment company BKCM Brian Kelly is sure that the “correction” will be shorter, as investors have been insecure due to the BCH Hard Fork:
People are concerned that both the Bitcoin and Bitcoin Cash markets – their networks could slow down. They may not work so well. This software update may not go through, or if it does, we will get a little chaos.
People started selling. That triggered stops. Everyone was worried and that’s what happened today – the whole market is sold out. From my point of view – very short-term nature of the event. I think this is probably a chance.