XRP Poised to Overtake Bitcoin Market Cap: Ripple Vet Predicts Surprising Scenario
Ripple veteran David Schwartz believes that XRP has what it takes to overtake Bitcoin in market capitalization, but he cautions that this would happen more likely due to XRP's growth rather than Bitcoin's decline.
Schwarz made his comments during a recent appearance on 'Spaces,' where he noted that XRP has historically been able to capture a disproportionate share of cryptocurrency growth due to its faster transaction speed and greater functionality compared to Bitcoin.
The XRP Ledger was designed as a scalable alternative to Bitcoin for payments, and Schwartz recalled how even a rally to $0.25 seemed implausible when XRP was trading at $0.006 earlier this year. He also sold some XRP around $0.10 due to the valuation already seeming extraordinarily high.
Schwarz made a comparison with Bitcoin's price history, noting that $100 BTC once seemed absurd but is now vastly more valuable than XRP's current market capitalization of approximately $89.1 billion.