BitBoy: XRP is going to surpass Ethereum’s market cap sooner or later

We seem to end the year with a small disappointment for XRP. Yet, looking back, we can speak of a very successful 2024. The digital currency experienced an explosive rise in November, with a local peak of $2.90.

However, according to well-known crypto YouTuber Ben Armstrong, better known as BitBoy, XRP has much more in store. He expects the token to significantly catch up to Bitcoin (BTC) during the current bull market.

XRP: Growth in Dominance

Armstrong says he doesn’t expect XRP to surpass Bitcoin’s market cap anytime soon. However, he does see opportunities for XRP to grow more quickly in dominance. By 2024, XRP has already influenced BTC’s dominance in the market. For example, Bitcoin’s market dominance fell by 6% in November, 3% of which was due to the rise of XRP.

XRP vs. Ethereum

According to BitBoy, Ethereum (ETH) is XRP’s main competitor. The two have a long history, as XRP was once the second largest cryptocurrency in 2018. However, issues such as the US Securities and Exchange Commission (SEC) lawsuit prevented XRP from ever realizing its full potential. The future now looks a lot brighter.

XRP’s appeal lies in its role as a bridge currency within the global financial system. The project aims to modernize and make the financial infrastructure more efficient, with the potential to serve a market worth trillions. Although Ethereum is also popular among businesses and financial institutions, it lags behind in terms of transaction speed.

XRP Inhales Ethereum

According to Armstrong, XRP could surpass Ethereum in market cap if it reaches a value of $22 per token. This would represent an increase of more than 850% compared to the current price of $2.31. At this valuation, XRP’s market capitalization would be $1.26 trillion.

Conclusion

While XRP may end the year with a modest correction, 2024 offers plenty of reason for optimism. With a strong role in the financial system, improved trust following legal challenges, and a clear vision for growth, XRP appears well-positioned to continue competing with both Bitcoin and Ethereum. The question is whether XRP can really reach its full potential in the coming bull market.

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