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Ethereum Overtakes Ripple As No.2 Cryptocurrency By Market Cap

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Ethereum has risen back to No. 2 rank in the list of the world's largest cryptocurrencies by market capitalization, overtaking Ripple's XRP digital token. ETH edged past XRP by a slight margin, and currently has a market capitalization of $12.6 billion, according to the latest CoinMarketCap data.

XRP is ranked third with a market cap of $12.38 billion.

The cryptocurrency native to the ethereum blockchain has moved past XRP in the crypto rankings with the help of a significant 12 percent price surge over the week. From $101 a week ago, the softcoin improved its value by about $13.

As of writing, ETH is changing hands at $119.72.

Ethereum recovered with last week's sudden market pump, which also benefited its rivals. Added to it, a large volume of trade by so-called crypto whales also contributed to improve its market capitalization.

Bitcoin, which has been trapped under a $3,400 slump in the last week, is trading around $3,600 this week. It remains the market leader with a market capitalization of $62.8 billion.

Litecoin, which powered to fourth place in the list of major cryptocurrencies last week, has a market cap of $2.6 billion. It experienced an impressive price surge of around 26 percent in a week.

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