The cryptocurrency market’s sporadic behavior has become evident again as several coins have started riding the bullish surf, including some changing positions on the chart. Ethereum [ETH], which has been languishing below XRP for more than two months now has finally clawed its way to the second position on the charts as XRP fell to the third. This overtake was assisted with the surprise price hike that has affected all the cryptocurrencies on the chart.
At the time of writing, Ethereum was green in all the time frames with the 3.1% shoot-up in the 24-hour spectrum being a help. The cryptocurrency was trading for $121.16 with a total market cap of $12.699 billion.
ETH’s 24-hour market volume of $2.109 billion was majorly shared between OEX and ZBG, two popular cryptocurrency exchanges. While the former saw $175,087 million worth of transactions taking place on the platform, ZBG had a grasp on $96.917 million of the total ETH trade.
XRP, which had a significant hold on the second position has lost traction after Ethereum enjoyed a more significant bull run. At press time, XRP was trading or $0.31 with a total market cap of $12.516 billion. XRP’s 24-hour growth was almost negligible, spiking by just 0.06%.
The cryptocurrency had a 24-hour market volume of $481.518 million with ZBG being a common factor with XRP too. ZB.COM held the lion’s share of XRP transactions as $49.66 million worth of transactions occurred on the platform. ZBG came in a close second, overseeing $27.89 million of all XRP trade.
XRP’s fall from the second position actually comes after a positive push from the institution department, as evidenced by Eva Kaili, a member of the European Parliament, speaking at a Ripple Regionals event. She had said:
“I believed that if we were not positive, the resistance of the traditional players would only increase and could even kill a technology that had so much potential for good.”
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XRP TipBot comes back online after a tiny downtime; Nothing to be worried about, says Wietse Wind
XRP TipBot’s website and the corresponding application suffered a downtime on June 23, 2019 for a few hours, during which the application wasn’t showing the balance of users. The website and the API for TipBot instead, displayed a “500 Internal Error.”
A Twitter user, @BlueNETGaming, tweeted Wietse Wind, inquiring the same. Wind confirmed that it was just an “infrastructure blip,” and that there was nothing to be worried about.
Oops! Sorry! Infrastructure blip. Really easy fix but I enjoyed an offline afternoon with my girls 😇 So I only found out after some time, when I checked my phone. Monitoring, messages, calls 😇 Social media tips went through during the downtime. Sorry! 😆
— Wietse Wind (@WietseWind) June 23, 2019
XRP TipBot is probably the first and most widely accepted use-case of XRP. It leverages the transaction settling time of XRP Ledger to make tipping easy among peers on Twitter, Reddit, and other platforms, and this was the brainchild of developer Wietse Wind.
After TipBot, a lot of other cryptocurrencies have tried to mimic this idea of facilitating tipping; an example being Bitcoin’s, Tippin.Me which leveraged Lightning Network for tipping users. Although successful, it isn’t as popular as Wind’s TipBot.
The reason behind the same is that XRP Ledger allows transaction settlement in under 5 seconds, which makes tipping fast and efficient, unlike Bitcoin’s transactions which take a few minutes for transactions to be confirmed.
This is same reason why XRP is being used as a liquidity provider for cross-border payments in Ripple’s proprietary product, xRapid.
XRP community is a tightly-knit community with people who are very bullish about XRP’s success. There are equally talented developers in the community who are developing apps that help create more use-cases for XRP.
SchlaubiDev is one such developer known for developing plugins for Gmail and Microsoft Office, plugins that allow a user to send XRP over e-mails.
Ripple has identified Wind and his team’s talent and inducted them into Xpring, which finances them to help develop more community-based apps for increasing XRP use-cases.
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