The cryptocurrency market’s sporadic behavior has become evident again as several coins have started riding the bullish surf, including some changing positions on the chart. Ethereum [ETH], which has been languishing below XRP for more than two months now has finally clawed its way to the second position on the charts as XRP fell to the third. This overtake was assisted with the surprise price hike that has affected all the cryptocurrencies on the chart.
At the time of writing, Ethereum was green in all the time frames with the 3.1% shoot-up in the 24-hour spectrum being a help. The cryptocurrency was trading for $121.16 with a total market cap of $12.699 billion.
ETH’s 24-hour market volume of $2.109 billion was majorly shared between OEX and ZBG, two popular cryptocurrency exchanges. While the former saw $175,087 million worth of transactions taking place on the platform, ZBG had a grasp on $96.917 million of the total ETH trade.
XRP, which had a significant hold on the second position has lost traction after Ethereum enjoyed a more significant bull run. At press time, XRP was trading or $0.31 with a total market cap of $12.516 billion. XRP’s 24-hour growth was almost negligible, spiking by just 0.06%.
The cryptocurrency had a 24-hour market volume of $481.518 million with ZBG being a common factor with XRP too. ZB.COM held the lion’s share of XRP transactions as $49.66 million worth of transactions occurred on the platform. ZBG came in a close second, overseeing $27.89 million of all XRP trade.
XRP’s fall from the second position actually comes after a positive push from the institution department, as evidenced by Eva Kaili, a member of the European Parliament, speaking at a Ripple Regionals event. She had said:
“I believed that if we were not positive, the resistance of the traditional players would only increase and could even kill a technology that had so much potential for good.”