As markets recover a new #2 cryptocurrency emerges - Ripple has dethroned Ethereum... for now.

Following yesterday's cryptocurrency market bloodbath, today's recovery has given us a new #2 token - Ripple's XRP has overthrown Ethereum to take the spot after the never-dethroned #1 - Bitcoin.

The margin isn't huge, with XRP's market cap sitting at $18,683,209,694 and Ethereum at $18,307,093,020 at the time of publishing.

A few factors aside from yesterday's crash played into this too - when markets take a dive, ICO's that raised Ethereum to fund project development tend to ditch some or all of their ETH. Rather than sit by and see how low it will go and risking the funds they need pay the bills.

At the exact same time, Ripple was getting a wave of positive press following an interview it's Chief Executive Officer Brad Garlinghouse did with Bloomberg, where he outlined Ripple's aggressive goals to take over banking transactions.

But the battle for #2 is hardly over, while it's been a rough year for Ethereum the light at the end of the tunnel keeps getting brighter. 

Last week at Ethereum's 4th annual developer conference the public was given an update on Ethereum 2.0 which could very well solve all of Ethereum's current problems with one big upgrade. It's coming, but the release dates keep changing and Ethereum's rough ride will likely continue for awhile longer - still, don't make the mistake of thinking a comeback isn't extremely likely.
Author: Justin Derbek
New York News Desk