BTC vs. XRP: XRP Movements Coincide with Bitcoin, Though Has No Change in the Market Position
Bitcoin price that was a virtuoso in the race of bullish market seems to have a struggling journey to continue the Bull Run. By the end of the previous week, Bitcoin value has been abating in comparison to the hike it had in the fortnight. However, as the weekend turned the corner Bitcoin price Bull Run was substantiated by crossing $8000 mark and trading scantly above it with yesterday’s morning chirp.
Ripple (XRP) is the 3rd largest crypto coin in the cryptomarket. Ripple has been more or less consistent on its track since the starting of the year 2019. There have a few cases of abrupt price variations. Though, Ripple (XRP) is too stable and has all the rights to lead the cryptomarket.
BTC vs. XRP- Current Statistics at a Glance:
BTC and XRP rank on the leading positions in the cryptomarket. With BTC value leading the market, XRP price seems to follow the motion trend of the market triumph. However, the gap between the two prices is wide enough to justify the positions they have. The current statistics of the two according to Trading View on the exchange of Coinbase as on 21st May at 6:03 UTC is as below:
|Rank- 1||Rank- 3|
|Price (USD)- 7922.00||Price (USD)- 0.39|
|Price (BTC) –||Price (BTC)- 0.00004963|
|Market Capitalization- 140,396,278,991 USD||Market Capitalization- 16,598,580,112 USD|
|24h volume- 22,425,370,481 USD||24h volume- 2,027,525,088 USD|
|Circulating Supply- 17,713,062 BTC||Circulating Supply- 42,116,677,673 XRP|
|Return on Investment- 5,772.68%||Return on Investment- 6,592.07%|
BTC is currently trading at a price $7922.00 while XRP is trading at a price (USD) 0.39. The wide difference between the Market Capitalization rationalizes with the current trading price. Market Capitalization, an important variable to justify the position, BTC seems to be nine times more than the Mcap of XRP. The probable reason can be the investors’ built-in fidelity, Bitcoin’s popularity, and its position in the cryptomarket. However, the Circulating Supply of XRP in comparison to BTC is way more against the popularity that Bitcoin price and its position amongst the investors hold. Per this, XRP generates a higher Return on Investment in comparison to the one generated by BTC.
The highest value of XRP was recorded in January 2018 at 3.84 USD, while the highest BTC value since the start of the year 2019 was recorded seven days back at 8300 USD, presumed to be the most significant Bull Run that may crash the one attained in 2017.
The above chart of XRP/BTC almost shows an identical movement along the axis of the graph, though there is no resemblance of XRP movements to coincide with that of BTC.
XRP has been performing well after the total breakdown of the last month. The highest price of the coin was 3.65 USD in January 2018. The partnerships engaged in the first half of 2019 will soon give results in the second half.
Needless to comment on the price and position that BTC holds, so when it comes to comparison of the two i.e., XRP and BTC, it can’t be considered vital looking at the statistics of the concerned parameters. However, individually, the coins justify their loyalty with the positions they hold.