According to coinspeaker.com, Brad Garlinghouse reportedly revealed that during Fortune’s “Brainstorm” podcast held on November 19, Bitcoin is not competing with Ripple. He also said that he would continue holding a portion of the most popular cryptocurrency.
“I don’t view what Ripple is doing as somehow competitive with Bitcoin. I hold Bitcoin. I want Bitcoin to be successful. […] I do think all boats will rise,” Ripple’s executive said.
Bitcoin rally is typically helpful to other cryptocurrencies in the bull market. Bitcoin’s overwhelming market dominance and broader appeal among investors give it an enormous gravitational pull on other digital assets. As far as the degree of domination is involved, Bitcoin has a rate of 67.01 percent, meaning that it accounted for about two-thirds of the entire market cap for cryptocurrencies.
Data from the CoinMarketCap disclose that during january 2018, the Bitcoin dominance rate declined to approximately 32.8 percent. The dominance of the BTC may remain the same or increase even though the Altcoin price decreases. The first rival in BTC was Ethereum (ETH), which was later followed by Litecoin (LTC) and XRP.
A series of significant price jumps have made Bitcoin dominance to escalate steadily over the last six weeks. XRP has also not been left behind as it also broke out this week, to the point that it registered a high of almost $0.3075, as per data from TradingView.