The price of XRP has been on a tear ever since Ripple made two notable announcements this week, including a hint that its xRapid product could be released in the coming months and announcement that U.S. regional bank PNC Financial Services Group (PNC) will be joining RippleNet.
Over the last week, XRP is up more than 118% to $0.604635, bringing its total market capitalization to a whopping $23.4 billion.
The run-up has been enough for XRP to surpass Ethereum (ETH), which currently holds a $23.1 billion market cap. Given Ethereum’s downtrend in recent weeks, and XRP’s major breakout, this major shift may last for the foreseeable future.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.