Altcoin Ripple (XRP), which has seen an explosive amount of growth over the past week, has overtaken Ethereum (ETH) to be ranked number two by total market capitalization on CoinMarketCap.
As of press time, Ripple has a listed market cap of around $26 billion, while Ethereum — now in third on CoinMarketCap — has around $23 billion in market cap. Bitcoin (BTC) is still ranked number one, with a market cap of around $115 billion.
Ripple has seen unprecedented 140 percent growth on the week, up almost 80 percent on the day alone, to trade at around $0.65 by press time.
Ripple weekly price chart. Source: Cointelegraph Ripple Price Index
At the beginning of this week, Ripple executives hinted that its xRapid payment platform solution could soon be launched. Also this week, PNC, a top ten U.S. bank, announced that it would use RippleNet to process international payments for its customers.
Over a 24 hour period, total market capitalization of the crypto markets has gained around $26 billion dollars, with total market cap currently around $228 billion by press time.
Daily total market capitalization. Source: CoinMarketCap