Bitboy: ‘XRP will pass Bitcoin soon’ – Is that possible?

Bitboy holds on to XRP vision

That statement has again led to discussion within the crypto world. Not for the first time, by the way, because Bitboy has been a pronounced fan of XRP for years. Yet his position now seems to be worn wider.

The idea that Ripple’s mint could catch up Bitcoin stems from the functional difference between the two coins. Bitcoin is mainly used as a value storage, while XRP has been specifically developed for payment transactions. Due to low costs, fast processing and an energy -efficient network, XRP is more attractive for large -scale use in the financial sector.

Armstrong also focuses on other factors that, according to him, contribute to the growth potential of XRP. Among other things, he mentions the increasing interest of banks and payment companies, and the prospect that the court case against Ripple will soon come to an end. Judge Torres, however, rejected the joint request of Ripple and the SEC to terminate the case yesterday, so that the file remains open for the time being.

A lot of catching up required

Yet the distance to Bitcoin still seems huge for the time being. The market value of Bitcoin is currently at more than 2.1 trillion dollars, accounting for around 65 percent of the entire cryptomarket. XRP is the fourth largest currency with a market value of around 123 billion dollars.

XRP would still have to rise by more than 1,600 percent to pass Bitcoin (if we assume that the Bitcoin course remains unmoved). But the recent growth is significant. In the past year, the currency rose by almost 350 percent, compared to an increase of 76 percent for Bitcoin. Even at this pace it would take years before XRP is more valuable than Bitcoin.