Ripple (XRP) investors are truly one of the most loyal investors any market has ever seen. The way the price has defended against potential falls in the face of market meltdowns is completely astounding. While Bitcoin (BTC) price is influenced by all kinds of investors who would trade any amount of coins to make a quick buck, XRP investors are mostly holders.
Ripple (XRP) stands a class apart as it draws a particular section of investors that are influenced by Ripple (XRP)’s price action. Going by XRP/BTC weekly chart, we can see that most of Ripple (XRP)’s big upward moves take place in a very short time frame.
The past few weeks in the crypto space have been exhausting. Markets are crashing like bowling pins. Peaks have been scaled and nosedives have happened day in day out, Eventually, XRP has surpassed Ethereum to be the second biggest cryptocurrency in the space, it’s been a hectic few weeks.
XRP and Ripple – What’s the connection?
Though Ripple claims XRP has nothing to do with the company but the fact is, is that there is a direct link between the two. Whatever happens to Ripple will have a domino effect for XRP, especially with over half the supply being held by the company. Positive developments for both the firm and its token have made XRP one of the few digital currencies to make a few gains over this past month. It has actually made over a ten percent increase over the past month while Bitcoin and Ethereum have dropped 14% 16% respectively.
Will XRP be able to compete with BTC?
With these rapid gains, XRP was able to jump over the $20 billion market capitalization and into second place as Ethereum continues to dip. Twitter users are discussing the idea of XRP catching up with Bitcoin and the opinions are becomes more and more realistic. The road to that is long and winding indeed and XRP has to invest more into its products and gain the trust of the Banking and financial industry to do so.
Investors believe in Ripple (XRP)’s promise of becoming the global mode of payment increased even more with its #2 position. Does it have what it takes to beat Bitcoin (BTC)? This could be true as the price of BTC is influenced by a select group of greedy traders who can play with the price.
Bitcoin (BTC) is a pioneer in the cryptoworld and can be the only cryptocurrency to be capable of being called money. However, Ripple (XRP) is better positioned to replace fiat as the preferred digital currency in the near future.