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Here’s XRP Price to Overtake <a href="https://xpertsstudio.com/why-is-bitcoin-down-today/” title=”Why Is Bitcoin Down Today?”>Bitcoin as Predicted by Ripple ex-CTO
$XRP needs to reach a strong double-digit price to overtake Bitcoin in market value, based on David Schwartz’s prediction that $XRP will grow faster than BTC.
Schwartz, Ripple’s former CTO, recently said he believes $XRP will one day surpass Bitcoin. But he doesn’t think this will happen because Bitcoin crashes.
Instead, he believes $XRP will grow faster than Bitcoin as the overall crypto market continues to expand.This raises an important question: How high would $XRP price need to go to close the current market-cap gap with Bitcoin?
$XRP Price Would Need a Huge Market Cap
$XRP is currently around $1.4, giving it a market value of about $88 billion. Bitcoin is around $77,200, with a market value of $1.55 trillion.
That means Bitcoin’s market cap is about 18 times bigger than $XRP’s. For $XRP to overtake Bitcoin, its market value needs to grow by trillions of dollars.
For example, if Bitcoin reaches a $3 trillion market cap, $XRP needs to move above $3 trillion to become the biggest cryptocurrency. With about 62.74 billion $XRP in circulation, a $3.1 trillion market cap puts $XRP at around $49.40 per coin.
That means $XRP needs to rise about 35 times from its current price of $1.38.
Bitcoin Will Keep Rising Too
Meanwhile, the $50 $XRP price is not a fixed target for overtaking Bitcoin. It depends on how high Bitcoin’s price rises when $XRP attempts to pass it.
For example, if Bitcoin reaches a $3 trillion market cap, its price will be around $150,000 based on its current supply. If Bitcoin rises even higher, $XRP needs to reach an even higher market cap to overtake it.
That makes Schwartz’s prediction very ambitious. $XRP needs to grow much faster than Bitcoin for a long time, even while Bitcoin continues to rise. Schwartz believes this will happen if the overall crypto market grows rapidly.
Why Schwartz Thinks $XRP Will Grow Faster Than Bitcoin
Schwartz believes $XRP will grow faster than Bitcoin because of what the $XRP Ledger can do. He believes the $XRP Ledger offers features that Bitcoin does not.
So, Schwartz does not expect people to simply leave Bitcoin and move to $XRP. Instead, he sees the crypto market growing much larger, with $XRP taking a bigger share of that growth.
In this scenario, Bitcoin remains highly valuable while $XRP grows much faster.
$XRP Still Has a Long Way to $50
If $XRP reaches $50, its market value will be about $3.14 trillion based on the current supply. That puts $XRP ahead of Bitcoin if Bitcoin’s market value remains around $3 trillion.
But if Bitcoin keeps rising, $XRP needs to reach an even higher market value to overtake it. Schwartz has not given a timeline for $XRP to overtake Bitcoin, and he has not said that $XRP will reach $50.
The $50 price is only an example of what $XRP would be worth if Bitcoin has a $3 trillion market cap. For now, $XRP remains far behind Bitcoin in both price and market value.
Source: cryptonews.net