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Ripple veteran David Schwartz hasentertainedone of the $XRP community’s most ambitious scenarios: $XRP eventually overtaking <a href="https://xpertsstudio.com/<a href="https://xpertsstudio.com/bitcoin-price-golden-cross-flashes-as-btc-eyes-82k-breakout/” title=”Bitcoin Price Golden Cross Flashes as BTC Eyes $82K Breakout”>bitcoin-transfer-of-654-btc-from-coinbase-sparks-market/” title=”Bitcoin Transfer of 654 BTC from Coinbase Sparks Market”>Bitcoin by market capitalization.
During a recent appearance on X’s “Spaces,” Schwartz argued that an $XRP “flippening” is possible, but he attached an important caveat to the prediction.
Such a scenario, according to the longtime $XRP Ledger architect and Ripple CTO emeritus, would be more likely to happen because $XRP surges than because Bitcoin collapses.
$XRP could potentially capture a disproportionate share of that growth because of characteristics such as transaction speed and greater functionality compared to Bitcoin.
The $XRP Ledger was designed from the outset as a faster and more scalable alternative to Bitcoin for payments.
It’s all about perspective
Earlier this year, Schwartz recalled that even a rally to $0.25 seemed implausible to him when $XRP was trading at roughly $0.006.
Schwartz said that he sold some $XRP around $0.10 because the valuation already seemed extraordinarily high at the time.
He made a similar comparison with Bitcoin, recalling that $100 $BTC once seemed almost absurd.
At the same time, Schwartz stressed that such comparisons have an important weakness: $XRP’s market capitalization today is vastly larger than Bitcoin’s was when $BTC first crossed $100.
$XRP once got surprisingly close to Bitcoin
There is historical precedent for $XRP dramatically narrowing Bitcoin’s lead.
During the extraordinary cryptocurrency rally of late 2017 and early 2018, $XRP surged into second place and became Bitcoin’s closest major challenger.
$XRP has notably overtaken Ethereum before. The most memorable flip occurred in late December 2017.
Back then, $XRP’s capitalization had jumped to roughly $86 billion, putting it comfortably ahead of Ethereum at $73 billion and making $XRP the world’s second-largest cryptocurrency. $XRP remained ahead at the end of the year.
At a price of $1.42, $XRP currently has a market capitalization of approximately $89.1 billion, making it the fifth-largest cryptocurrency.
Bitcoin, meanwhile, is changing hands at roughly $78,693 with a market capitalization of approximately $1.58 trillion.
That means Bitcoin is currently worth about17.7 times more than $XRPby market capitalization.
Source: cryptonews.net