Ethereum Has Shot Past Ripple’s XRP In The Cryptocurrency Rankings–Here’s Why

The ethereum price has surged some 3% over the last 24 hour period to over $120 per ether token as ripple (XRP) remains flat and the wider market holds onto its gains from late last week. Bitcoin, currently trading at around $3,600, is up some 5% over the last week after a relatively minor bull run sparked by news of a litecoin network upgrade.Over the last 24 hours some $8.5 million worth of ethereum has been traded by so-called crypto whales, adding to ethereum daily volume of $3.2 billion. It is generally considered that cryptocurrency markets remain small enough to be moved by large trades at either above or below market rates.Ethereum now has a market capitalization of over $12.6 billion, slightly above Ripple’s XRP $12.5 billion market cap. Litecoin, which powered to fourth place in the list of largest cryptocurrencies last week, has a market cap of $2.6 billion.

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