Schwartz: XRP Can Flip Bitcoin with Faster Adoption and Usage
Ripple's CTO Emeritus David Schwartz has shared his thoughts on whether XRP could potentially flip Bitcoin, becoming the largest cryptocurrency by market cap.
In a recent discussion on X Spaces hosted by ILLY, a listener asked Schwartz if he believed this scenario was possible. Schwartz replied, 'Yeah, I do,' but added that it would not come from Bitcoin shrinking, but rather from XRP growing faster than Bitcoin.
The key to XRP's growth, according to Schwartz, lies in the increasing adoption and usage of the XRP Ledger (XRPL). He believes that as more users take advantage of XRPL's faster settlement times, increased functionality, and features that Bitcoin's base layer cannot handle, such as payments, tokenization, and on-ledger finance, XRP will attract a larger share of new demand.
The current market cap gap between Bitcoin and XRP is significant, with Bitcoin holding a market value of around $1.58-$1.59 trillion, while XRP's market cap stands at approximately $89 billion. To match Bitcoin's market cap, XRP would need to grow by a factor of around 18 times its current value.