The faith of Ethereum when it comes to its value in the market and the overall interest of investors is greatly uncertain for months now.
The final blow to ETH was perhaps the latest case of losing its long-held spot of the second-largest cryptocurrency in the market right after Bitcoin (BTC).
With the latest dip in the market, that honor now goes to Ripple’s XRP respectfully.
ETH declined by the total of -17% in a week due to the latest negative market trends that hit the market on November 15th. Within the accelerating whirlpool of losses, ETH lost its spot of the second-largest currency.
Will Ethereum cover or become a subject of excessive drops by the end of 2018?
Ethereum Declines to the Spot of the Third-Largest Crypto Beaten by XRP
It appears that the faith of ETH now seems even more uncertain once the former second-largest currency lost its spot to one of the fastest cryptos in the market, XRP.
The problem is not that XRP made a more positive movement in the market than ETH at the time of the initial decline, but the fact that it was only a matter of question which crypto is set to lose less.
Ethereum lost over -13% of its value to the dip in a single day, which lowered its value by over -17% in a week, also lowering its ranking as a consequence.
Ethereum (ETH) Price Today – BTC / USD
Even though the market is still marked with negative trends XRP is managing to show a positive momentum against the fiat as one of the rare top cryptos while ETH is dropping once again.
However, ETH didn’t dip below 170$ even though it appeared that the crypto was going downwards to the initial value, stopping at 174$.
Later on, ETH managed to climb to 179$ with 2% of rises in the past 24 hours, which also brought its weekly loss to -15%.
Will Ethereum Go Back Up from This Point or Fall Back Down?
In the middle of the dipping market, while XRP benefited despite the price declines by over -10% for a single day, toppers like Bitcoin and Ethereum were dropping hardcore.
Bitcoin went below the value of 6,000, touching 5,500$ with the latest drop of -13.74% in a week, and Ethereum touched a new low of 174$.
However, we can see Ethereum rising up by 2% after the major dips affected its value, so Ethereum is now trading close to 180$ with fine odds for breaking the resistance of this price.
Many are wondering whether Ethereum will be able to at least get back to the value of 220$ by the end of 2018, which was its previous price before the dip hit the market in mass.
The way things are currently standing, ETH might have some chances as it is barely dropping by 0.01% at the moment. However, whether ETH will get back to its previous ranking of the second-largest cryptocurrency by the end of the year still remains to be seen.
At this moment, as XRP is rising within the dipping market, this endeavor poses a major challenge.