XRP vs. BTC: XRP Having a Nosedive This Year Despite Larger Supply Than BTC

XRP, the most beloved of all the altcoins in the crypto market, was considered as a crypto jewel in 2017 along with the leader of the cryptomarket, Bitcoin. But 2018 had been a disheartening year for the XRP market. Although a momentum to rise was gained by the culmination of the year, creating a parabola, which presently until Monday seemed to be the other end of that parabola. XRP is nearly 50% down against Bitcoin irrespective of a reassembling movement at present.

XRP chart

Ripple current statistical ratio in Comparison to Bitcoin:

Considering a one year graph from Trading View on the Crypto Exchange Binance as on 15th May at 9:54 UTC, we observe the below-mentioned fall in the market of XRP:

  • XRP to BTC is currently having a price mark of 0.00005416.
  • XRP to BTC in May 2018 was marked to be 0.00008471.
  • Concerning the above data, XRP to BTC is presently 36.06% less than the same period in 2018.
  • XRP by the end of December 2018 was recorded having reached the highest of the 12 months, i.e. 0.00010035 XRP to BTC.
  • Today it is 46.02% less than the highest of the year.
  • While Bitcoin gained a stupefying momentum in April 2019 XRP is seen declining until the start of this week.

XRP price analysis chart

Considering a one year graph from Trading View on the Crypto Exchange Binance as on 15th May at 9:54 UTC, we observe the below-mentioned volatility in the market of BTC as we compare XRP to BTC:

  • Bitcoin is currently trading at a price (USD) of 8140.33.
  • BTC in May 2018 was trading at a price (USD) of 8102.30.
  • Concerning the above data, currently, it is traded in the same price range. However, it is essential to highlight that May 2018 and onward was a period of a bearish trend for BTC to get down from the bulls of 2017.
  • But, 2019 is predicted to be the period of Bull Run after 2017.
  • It was only by the end of April when this period of Bull Run began to accelerate, although previously it was a bearish market from last ten months for Bitcoin price.
  • BTC started the year with the price (USD) 3743.27, and now it is 117.46%, which is a phenomenal growth with just 2nd quarter of the year in action.

Bitcoin price analysis

In spite of a booming market of BTC in comparison to XRP, we should not forget that XRP total supply, i.e. 99,991,633,428 XRP is way more than BTC total supply which is just 17,701,637 BTC and therefore is leading to a brief recovery in the declining prices. News that XRP trading on Coinbase is now also handy to users in New York has led to another rally in the XRP price over the past couple of days, rising against BTC since Monday.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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