TL;DR= the market goes where the market goes.
When you say second place i presume it's in terms of market cap?
For me, Market Cap does not matter.
First, it's a meaningless and easily gamed measure, something that XRP has exactly done. How?
XRP is set at 100 Billion maxcap, and only about less than 40 Billion of them are in circulation. God knows how much among the 40 Billion are even in actual circulation.
I know I probably am gonna get grilled by the short-term crypto trader type for "being stupid" for saying things like this. Because marketcap is not and never will be a measure how good a cryptocurrency is. There are so many many other good indicators that ACTUALLY tells the true of story behind how a coin is performing. Some of it are nigh impossible to manipulate.
For me, I put far more emphasis on other indicators like blockchain activity (no use if the only trxn of a blockchain are to and from exchanges), user adoption (no use if it's only pumped and dumped by trader types), code development (some coins *cough*tron*cough* have laughable public git repos), as well as some other things.
To answer your question, The market is irrational at best. All it takes is probably another pump to set a chain reaction, or some news that prompts speculators to think the price might go up and then self-fulfill their expectation when the pump the coins. We all know that crypto is all speculation now. The ratio of trader-types and actual users in the industry makes an ecosystem where the value perception is driven by them rather than the people who actually uses the coins.
Who even uses Ripple anyway.
No Ripple (XRP) can't take the second position. The default ranking on coinmarketcap is the market capitalisation and it is gotten by multiplying the circulating supply by the coin price. I believe this is the same rank you are talking about.
Ethereum currently have a market cap of $26.61b to Ripple $12.26b that is double of ripple market cap even with the current dip in price.
For ripple to displace Ethereum in the second position, it will require an increase in price to $0.8 or $1 per XRP while hoping ETHEREUM remains static. The question now is, how viable is that?.
Another instance will be raising the circulating supply. This means more users purchasing ripple. Over 40billion xrp will need to be purchased to increase the market cap at the current price with the hope that Ethereum remains static. These is not feasible. Ethereum will also see mass adoption during this period and an increase in price.
Therefore, Ripple (XRP) can not displace Bitcoin in second place this year.
Well it is possible for ripple(XRP) to take the second place this year if the demands of ripple is very high and it
received a total investment that is more than that of
ethereum,what determines the rank of a cryptocurrency on the market is the market capitalization of the
cryptocurrency so if ripple have a higher market capitalization than ethereum then of course ripple(XRP)
will rank higher than ethereum,and the factor that can
increase market capitalization is when there is a massive increase on demands of ripple...
I know many people would say that it is never going to be possible for ripple(XRP) to rank higher than ethereum
this year but i know for sure that anything is possible in thr cryptocurrency market,if the ripple gets a higher
market capitalization which is higher than the market capitalization of ethreum then ripple will rank higher
than ethereum on the coinmarketcap.com,if ripple keeps getting more investors and ethereum do not get
more investors then it is possible to have an increased investment which is going to surpass that of ethereum
and when investments on a cryptocurrency is very massive then that would increase the market
capitalization of that cryptocurrency and it would make that crypto to rank higher than it was before....