Have you noticed something about Bitcoin Cash (BCH) in the last few days? If you pay any attention to cryptocurrency rankings by value, you probably already have.
Ripple (XRP) has had phenomenal growth in the last week. Its growth has been so strong that it is now the third most valuable crypto-coin on the market. Just a few days ago, Bitcoin Cash (BCH) was in that spot.
How was it knocked out of fourth place? Well, for one thing, Ripple (XRP) is up by 75.5 percent this week. In the last day, it’s grown 19 percent in value.
Meanwhile, Bitcoin Cash has only grown by about 11 percent in the last 24 hours. In the last seven days, it has seen a 24 percent price increase. At $2,837.10 a piece, that means BCH is worth about $47.7 billion.
Ripple (XRP), on the other hand, has soared to a whopping $65.8 billion in value.
Why is Bitcoin Cash (BCH) slipping down the crypto rankings?
This cryptocurrency is pretty famous. It’s the most successful coin that was ever forked from the original Bitcoin (BTC). A “hard fork,” as it’s sometimes called, is a process where a new cryptocurrency is created by cloning an existing one’s blockchain technology. After the replication, developers typically make upgrades and adjustments.
With Bitcoin Cash (BCH), its founding developers were getting frustrated with the original bitcoin. Transaction verification periods were sluggish. The capacity for completing transactions was also very limited. So, in response, they voted to fork it and create a new one.
Within one day, the new cryptocurrency was already in third place. It maintained that spot (for the most part) until now. Ripple has already briefly overtaken Bitcoin Cash for third place – but that was temporary. This time feels a little different.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.