Today was a crazy trading session in the Cryptocurrency market. The reason for this was because Ripple & Bitcoin Cash were in absolute fight mode! As you can see below, Ripple & Bitcoin are fighting for the #3 spot in terms of largest crypto by market capitalization. Ripple started this afternoon surging nearly 89% in one day, before cooling off slightly. Bitcoin Cash quickly accelerated while being tested for #3 spot. It was quite interesting to watch the trading session just because the #3 spot kept changing! Ripple and Bitcoin Cash traded #3 spots numerous times throughout the day with Bitcoin Cash finishing on top as of 10:23PM CST.
Bitcoin Cash Market Cap = $30,046,739,000 Ripple Market Cap = $28,908,195,000
The market cap figures we stated above can be seen on the chart above. This chart comes from https://coinmarketcap.com/ where you can see pretty much any crypto. Many have been waiting for the Ripple rally as the company continues to make strong relationships with reputable companies such as UBS. As of recent, Ripple struck a deal with American Express and Santander in regards to cross border payments. Out of all the cryptos, it's pretty impressive to see some of the deals Ripple is cracking while still trading at very low prices. We are highly bullish on Ripple due to the fact it's one of the few cryptos out there that banks and bigger companies seem to like tech wise.
Bitcoin Cash has been an interesting topic ever since the Bitcoin Classic fork came into existence. Many argue that developers took over the original Bitcoin and now made it more expensive to process transactions. It's a known fact that the original Bitcoin now takes longer to process transactions and get money from point A to point B. People have started piling into Bitcoin Cash because it has the traits of the original Bitcoin which everyone loved. This means that Bitcoin Cash still has lighting quick transaction speeds and ultra low costs compared to the original Bitcoin that has changed due to developers taking it over. It will be interesting to see if Bitcoin Cash can reach the price levels of the original Bitcoin. We remain bullish on both Ripple and Bitcoin cash, but Ripple really intrigues us at the moment looking forward!
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