XRP is approaching an all-time low against Ethereum (ETH). This follows a sharp drop in XRP’s value versus the leading cryptocurrency. According to TradingView data, XRP fell as low as 0.000184 on the Binance platform earlier today.
When XRP surpassed Ethereum
In September 2018, the Ripple-affiliated XRP coin skyrocketed, surpassing Ethereum to become the world’s second-largest cryptocurrency by market capitalization.
This jump in ranking was fuelled by investors’ optimistic expectations that Ripple would become the norm for international bank transactions.
Back then, XRP’s market capitalization surpassed Ethereum’s $22.1 billion.
According to the statistics supplied, Ethereum has a market value of $346.957 billion, whereas XRP’s market capitalization is $29.308 billion. This means that Ethereum’s market capitalization is much higher than that of XRP.
Ethereum remains the second-largest cryptocurrency by market capitalization, trailing behind Bitcoin. XRP is in a distant sixth place.
Conspiracy theories
The underperformance of XRP vs Ethereum has inspired a slew of unsubstantiated conspiracy theories in the cryptocurrency world.
Some XRP supporters suggest that the SEC may have exhibited favouritism to Ethereum by granting it a “free pass” while pursuing legal action against XRP.
These unsubstantiated hypotheses, which are often posted on social media and cryptocurrency forums, suggest that Ethereum’s supporters may have inappropriately influenced the SEC’s regulatory measures, a claim for which there is no tangible evidence. This narrative has gained hold despite repeated requests for evidence-based debates.
Critics of these hypotheses, like Cardano creator Charles Hoskinson, have pointed out the lack of evidence supporting such charges and have asked for a return to logical conversation within the community.
