Since the creation of cryptocurrencies,Bitcoin(BTC) has been the undisputed king.But now it faces a challenger in the form of Ripple XRP.
But there are other cryptocurrencies that have developed and gained a high market cap.And one of them is Ripple XRP, a cryptocurrency aimed at the financial sector.
In this article, we try to answer whether Ripple (XRP) can become as valuable as Bitcoin.At the time of writing, the BTC price oscillates around $28,500, and its capitalization is approximately $553 billion.XRP is trading at $0.46 with a capitalization of $24 billion.
Can 1 XRP Equal 1 Bitcoin?
It is impossible for XRP to ever overtakeBitcoin’srate.XRP would then have to increase 50,000 times while Bitcoin would stand still.The more coins available, the lower the value of one coin will be.
Bitcoin has a limited supply – 21 million coins.This is what makes its value soar.Ripple, on the other hand, has a much larger supply, namely 100 billion coins.
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More realistic, but also still difficult to achieve, is that Ripple’s market cap will catch up with Bitcoin.XRP would then have to increase “only” 23 times.
On March 21 2017, XRP reached its highest ever percentage share in the entire cryptocurrency market.For a very short time, over 19% of the value of all cryptocurrencies consisted of XRP, andBitcoin’s dominanceplunged to 47%.
But can Ripple become as valuable as Bitcoin?To answer this question, we must first look at the factors that determine the value of cryptocurrencies.
The most important of these is the number of users and acceptance as a means of payment.The more people use and accept a given cryptocurrency, the greater its value will be.
At the moment, Bitcoin has a much greater acceptance than Ripple.BTC is the most used cryptocurrency in the world while Ripple is mainly used in the financial sector.However, this does not mean that Ripple has no potential to increase in value.
Banks and Financial Institutions
The greater the demand, the higher the value will be.Bitcoin currently has greater demand than Ripple, but keep in mind that demand for Ripple has skyrocketed in recent years.
The fact that Ripple is targeting the financial sector and facilitating payments between different currencies could lead to more companies and banks using it.This, in turn, can lead to increased demand and therefore higher XRP value.For example, some central banks use Ripple’s services todevelop their own CBDC.
Please note that they use Ripple as the company and not necessarily XRP as the cryptocurrency.It makes you think – if Ripple actually became worth more than Bitcoin, the banking world won and Bitcoin lost.
But that is irrelevant if Ripple losesits lawsuit with the Securities and Exchange Commission (SEC).This is the project’s first challenge on its way to overthrowing Bitcoin from its throne.
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It is impossible for XRP to ever overtake Bitcoin's rate. XRP would then have to increase 50,000 times while Bitcoin would stand still. The more coins available, the lower the value of one coin will be. Bitcoin has a limited supply – 21 million coins.
While many in the XRP community predict sky-high valuations for the crypto by the peak of the next bull run, its token's distribution could be a limiting factor. XRP's circulating supply is only 54.74% of its 100 billion max supply.
Having analyzed XRP prices, cryptocurrency experts expect that the XRP rate might reach a maximum of $$0.649 in October 2024. It might, however, drop to $$0.585. For October 2024, the forecasted average of XRP is nearly $$0.617.
Bitcoin has long dominated the crypto market chart as the #1 cryptocurrency, while XRP generally maintains its position as top-5 ranked crypto by market capitalization. For XRP to surpass Bitcoin, it would need to see massive growth in its market cap from currency levels.
It is possible for XRP to surpass Bitcoin in the cryptocurrency hierarchy, but it is not a certainty. There are several factors that could contribute to XRP's success, including: Its strong use case: XRP is designed to be a fast, efficient, and scalable cross-border payment system.
Can XRP price reach $100? While it's theoretically possible for XRP to reach this price, it would require substantial market shifts or a major supply reduction. If the project were to reform significantly to drive value to the XRP token, there is every chance that XRP could soar to new highs.
Long-term XRP price prediction for 2025, 2026, 2027, 2028, 2029 and 2030. Based on the historical price movements of XRP and the BTC halving cycles, the yearly low XRP price prediction for 2025 is estimated at $ 0.328386. Meanwhile, the price of XRP is predicted to reach as high as $ 1.631942 next year.
If the project were to reform significantly to drive value to the XRP token, there is every chance that XRP could soar to new highs. However, like any investment, there are risks that every investor should consider before making a decision to invest.
Will XRP reach $1 any time soon? So XRP should gain plenty of value over time from Ripple's money-transfer operations, and the token also benefits from the market-moving impact of predictable Bitcoin gains. I can't promise that XRP will reach $1 per token in 2024, but the general trend line certainly points upward.
Lastly, as per the XRP Price Prediction 2030, XRP's price is forecasted to range between $13.80 and $16.24, making an average of $15.02. This long-term optimistic view hinges on Ripple's increasing global recognition and adoption.
Legal troubles could also be why XRP has fallen 7% this year (as of April 4). This compares unfavorably to the monster 53% gain of Bitcoin and the 54% rise of the overall crypto market. Perhaps investors are slowly losing interest. It's probably best to pass on XRP right now.
Bitcoin is considered to be more decentralized than XRP, but XRP is cheaper, faster, more scalable, and environmentally friendlier. Bitcoin is primarily used as a store of value and medium of exchange, while XRP was designed for cross-border payments.
Although both of these projects are utilizing blockchain technology, they are targeting completely different sectors. However, when it comes to comparing the actual performance of the two, Ripple is the better blockchain. Not only are XRP transactions faster and cheaper, but they can scale much more than Ethereum.
According to bitinfocharts.com, Ripple handled nearly 700,000 transactions in the last 24 hours. It's obvious to me that in order for Ripple to make millionaires out of its investors, adoption would need to rise substantially over the long term. As demand increases for the digital coin, its price should as well.
It is possible for XRP to reach $1,000 USD, but it is highly | CRYPTO_KITE on Binance Square. It is possible for XRP to reach $1,000 USD, but it is highly unlikely in the near future.
However, a $5 target looks quite plausible in the long run, as the global crypto market matures and RippleNet gains traction in more local markets. Keep an eye on the risks listed earlier, and make your Ripple investment a reasonable size that wouldn't break the bank if something goes terribly wrong.
In a recent proposal by Edward Farina, the Head of Social Adoption at #XRPUpdate Healthcare, a hypothetical scenario was presented whereby the price of XRP has the potential to see a significant increase, reaching a value of $10,000.
The site predicts that XRP could reach a high of $31.81 by the end of 2030. If this turns out to be true and you can ride the waves and hold onto your cryptocurrency, a $100 investment today could yield $6,782 in a little less than 10 years.
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