Ripple Overtakes Ethereum as 2nd Largest Cryptocurrency Market Cap

Ripple (XRP) is now worth more than Ethereum (ETH). As of 8:00 AM PST, CoinMarketCap shows XRP has gone up more than 83% in the past 24-hours. It now has a market capitalization of $25.6 billion USD, while ETH is at $23.4 billion USD.

The latest news is the announcement about a partnership with the American PNC Bank, but it is far from the only piece of goods news that helped the price of XRP. Earlier this week, Sagar Sarbhai, head of regulatory relations at Ripple Asia Pacific and Middle East, said the launch of Ripple’s new product xRapid could be as soon as next month.

Ripple has rebounded after losing around 90% of its value at some point earlier this summer. Ethereum has been suffering from scaling issues. Two weeks ago when Vitalik Buterin visited Hong Kong for the Ethereum Industry Development Summit he was met with taunts by a few attendees of the conference.

The move higher in cryptocurrencies came despite yet another delay from the SEC regarding a decision on a Bitcoin ETF. The authorities need more time.