XRP, Ethereum [ETH] create ripples in cryptocurrency space; market wakes up to developments

XRP, Ethereum [ETH] create ripples in cryptocurrency space; market wakes up to developments

October 17, 2018

The mid-week outlook of the cryptocurrency market seems to be positive, with the bullish run a few days back contributing to pushing prices away from its plateau. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH] and XRP have reflected the bullish atmosphere by demonstrating an increase in developments and updates.

XRP prices had thoroughly enjoyed the bullish streak, even crossing the 50 cent barrier. At the time of writing, the cryptocurrency was holding steady above the mid 40 cent mark with sporadic bullish rises in between.

Post the official launch of xRapid from the stables of Ripple, XRP has been in the news for a variety of reasons. According to reports, the cryptocurrency is even being discussed by officials in the White House, as revealed by Cory Johnson, Ripple’s Chief Strategist. He stated:

“The White House, in particular, seems to be thinking about what it means to have 80 percent of Bitcoin mining taking place in China and a majority of Ether mining taking place in China.”

XRP also seems to be a favorite among cryptographers and enthusiasts, with the recent news of Ali Kutlusoy offering a reward for cracking an online puzzle being a prime example. The reward for solving the conundrum is a massive 137.036 XRP, which has pushed a lot of cryptocurrency enthusiasts to jump onboard the bandwagon.

Another cryptocurrency which was blessed by the bull was Ethereum [ETH], which has been maintaining a constant disparity in terms of market cap with its closest rival, XRP. Ethereum was put in the spotlight recently by Nouriel Roubini, who called it a scam and dug deep into the failure of DAO. The economist even attacked the scalability issues of the Ethereum network.

The recent bullish hike had also witnessed Ethereum become one of the biggest gainers on the cryptocurrency charts. The growth had come in the wake of multiple ICO selloffs, due to which the price of ETH had dropped to a drastic sub-$200 low.

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