Market trends: the Ripple is the meaning of Ethereum.

[Paha87]

In the last 24 hours, Ripple (XRP) fell 9.5% against the dollar, however, it overtakes Ethereum (ETH), securing a second position in capitalization.

17 Nov XRP has recorded the value increase by 8% in the period, when the majority of major cryptocurrencies, including bitcoin (BTC) and the ether (ETH), fought for the preservation of momentum.

The short-lived XRP rally on Saturday allowed Ripple to take the lead on Ethereum, comfortably surpassing ETH with a market cap of $ 19.1 billion. As of November 19, Ethereum's market capitalization remains at $ 15.92 billion.

Coinbase contributed to the adoption of XRP

In August Sam Mcingvale, leading specialist of Custody Coinbase, said that the company is looking into adding many of the main crypto-currencies and token-ERC20 to your solution for storage intended for institutional investors, explaining:

Coinbase Custody is exploring the addition of many existing and future assets of cryptocurrency to store data and work on their addition. Currently, we have not yet considered these assets for trading. We make this statement to the public and to Coinbase employees at the same time to remain transparent with our customers regarding support for future assets.

Earlier this month, Coinbase Custody integrated XRP into its institutional investor platform, allowing institutions to buy and store XRP using Coinbase.

Currently the Commission securities and exchange Commission (SEC) is in the midst of the discussion, ICO and production of digital assets, which are considered as securities in accordance with the applicable rules. SEC not adopted that XRP are not securities, and as of November 19, a bitcoin-only and the air still already defined the SEC in the category of cryptocurrency. Consequently, it is expected that the integration of XRP on major exchanges such as Gemini and Coinbase Pro will be extended until a more comprehensive SEC guide is released.

ICO and sale of ETH

XRP's integration with Coinbase Custody was still a positive development for XRP, as it opened the asset to a new group of investors outside the cryptocurrency market and crypto-exchanges. Meanwhile, the pressure on the sale of ETH has continued to rise as in recent months, the ICO occupies a large part of the activity ETH-holdings.

As former Diar editor-in-chief Larry chermak said, "there is a big misconception that ICO companies have liquidated most of their ETH holdings. On average, all these projects moved or liquidated 62% of the amount they initially raised. In other words, they are still holding 38% of the originally collected amounts."

For financing projects, ICO consistently sold ETH on the public stock market, increasing the pressure on the sale of ETH.

Link to the source of information (Russian) - https://altstake.io/news/tendencii-rynkaripplesmylethereum