Ethereum price (ETH/USD) surges to 9-day high above $150

The Ethereum price (ETH/USD) has overtaken Ripple (XRP) as the second-largest cryptocurrency on the market after gaining more than 10% in the past 24 hours.

The digital coin performed strongly during the first session for 2019, as it was able to sustain a slow, but steady, advance throughout most of the day. The ETH rally accelerated in late trading, when the coin’s price surged to an intraday high of $141.40. Ethereum finished the Tuesday session at $140.82, well above its opening level of $133.42.

After spending the early hours of today’s trading hovering around the level of yesterday’s close, Ethereum resumed its rally and was able to retake the $150 level in the early afternoon. At the time of writing, the Ethereum price was hovering above the $153 mark, having hit its highest level in nine days.

Ethereum returns at the No. 2 position after spending nearly 50 days behind Ripple. ETH ceded its position to XRP on November 15, in the wake of a market crash triggered by worries over a Bitcoin Cash (BCH) hard fork. Ethereum’s problems were compounded by the US Securities and Exchange Commission (SEC)’s November 16 ruling that two ICO projects, CarrierEQ and Paragon Coin, were securities. Ethereum’s plunge reached its lowest point on December 15, when the coin hit a new 2018 low of $82.83. The coin has made an impressive comeback, having gained more than 80% since then.

In today’s trading, the Ethereum price stood at $153.20, as of 13:54 GMT. The digital coin has gained 12.5% in the past 24 hours, according to data from digital currency tracker Coinmarketcap. It’s total market capitalisation stands at nearly $16 billion. Its closest rival, Ripple, is currently valued at just over $15 billion.

For further information on how to buy and trade Ethereum, see our comprehensive Ethereum guide.