XRP emerges as phoenix amongst fallen angels; attempts to cope with the crash

XRP, which is now the second-largest cryptocurrency after surpassing Ethereum [ETH]’s market cap has proved its capability even in the times of doom. XRP is the only coin, except for Stellar Lumens, which has not dropped over 10%.

At the time of writing, the token had plunged by 8.94%, trading at $0.46 with a market cap equivalent to $18.61 billion. The total trading volume in the past 24 hours was observed to be $1.18 billion.

However, yesterday, along with its fellow coins, XRP’s support levels were violated one after another where the support finally dunked to a depressed $0.43. From here, the coin only saw an uptrend that extends from $0.43 to $0.45. This is indicative of a healing process for XRP wherein it is gaining momentum in its uphill climb once again.

Another sign of wellness displayed by XRP was when it outperformed Ethereum to claim an upper spot. There is still a difference of about $60 million in their market caps, which is much lesser than it was earlier, i.e., around $200 million.

During the past week, the highest price that the coin traded at was $0.52 with a market cap of $21.1 billion. Prior to the crash, the lowest that XRP hit was $0.49 where its market cap was recorded at $19.76 billion. Post the crash, the maximum level achieved by the coin was at $0.47 with a market cap of over $19 billion, which reflects positive efforts in the XRP market to regain control over price.

georgeb095, a Reddit user who is an XRP follower and enthusiast commented on the price change, stating:

“Good morning. It’s nice to wake up in 2nd place.”

To this, another user named Tone Man replied:

“And it will be even nicer to go to sleep in second place – fingers crossed.”