XRP Poised to Surpass Bitcoin in Market Value: Former Ripple CTO
Ripple's former Chief Technology Officer (CTO), David Schwartz, says that XRP has the potential to overtake Bitcoin in market value. According to him, this 'flippening' would not occur due to a decline in Bitcoin's price but rather because of XRP's rapid growth. The current market capitalization gap between the two assets stands at $1.49 trillion, with Bitcoin being worth roughly 17.7 times more than XRP.
Schwarz believes that as the digital asset market continues to expand, larger tokens like XRP and Bitcoin will climb together rather than competing for a fixed pool of investor money. He attributes XRP's potential growth to its faster settlement time and support for payment features not available on the Bitcoin network.
The current market capitalization of XRP is around $89 billion, which would need to reach approximately $25.10 to match Bitcoin's value at current valuations. Regulated XRP products have been attracting more money than their peers, with spot XRP ETFs pulling in $1.55 million on September 8.