Bitcoin Trumps XRP as Better Buy Amid Scarcity-Based Case
The XRP Ledger has processed over 4 billion transactions since 2012, with more than $1.7 trillion in value exchanged on the network. However, despite its impressive track record, the case for buying into XRP (Ripple) is less compelling compared to Bitcoin.
XRP's utility argument relies heavily on one company, Ripple, converting adoption into token demand. But this approach has not generated significant demand for XRP itself. In fact, banks are increasingly turning to RLUSD, a stablecoin pegged to the US dollar, which operates on the same XRP Ledger.
While it may seem counterintuitive, the minimal gas fees that result in the burning of XRP have little impact on its value proposition. Since 2012, less than 15 million XRP tokens have been burned, out of a total supply of over 100 billion.