XRP’s Impressive Rally: Is Surpassing Ethereum Feasible?
Recent days have witnessed XRP showcase exceptional market performance, highlighted by a notable surge in price that propelled it to a new yearly peak of $3.10—its highest valuation since December 2024. Despite a minor pullback, XRP has secured a commendable 23% increase over the past week, triggering discussions about its potential to overtake Ethereum and clinch the second spot in the list of largest cryptocurrencies by market capitalization.
Insights from Experts on XRP’s Potential
Sistine Research has emerged as a notable player in evaluating XRP’s future trajectory, suggesting that for XRP to surpass Ethereum, a substantial price escalation is imperative. Their analysis indicates that XRP must reach $4 to outdo Ethereum and approximately $19 to challenge Bitcoin’s dominance. However, this evaluation is based on XRP’s fully diluted market cap, incorporating the total supply of 100 billion tokens. This approach has been questioned by experts like CryptoInsightUK, who recommend focusing on XRP’s circulating supply.
Current data from CoinMarketCap reveals that XRP’s circulating supply stands at around 57.5 billion tokens. With Ethereum’s market cap at roughly $387.5 billion and a token price of $3,216, XRP would need to reach a value of about $6.74 to surpass Ethereum. This represents a significant 137% surge from its current price of $3.07, offering a more realistic perspective than the assessments put forth by Sistine Research.
Market Context and Possible Outcomes
Analysts are increasingly optimistic regarding XRP’s ability to attain this target. In the wake of the SEC’s decision to appeal the court ruling in the SEC vs. Ripple case in October 2024, EGRAG Crypto suggested that in the worst-case scenario for XRP within the ongoing bullish cycle, it could hit around $6. Similarly, Cryptobilbuwoo hinted that XRP might even outperform Bitcoin, potentially exceeding the $6 benchmark. These predictions appear more plausible given XRP’s recent performance: since September 2024, XRP has surged by a remarkable 203% against Bitcoin and by 334% against Ethereum since November 2024.
The present price trend signifies a growing belief in XRP’s potential to surpass Ethereum. Nonetheless, achieving the $6.74 target entails a significant climb, complicated by external factors like regulatory changes and broader market conditions that could impact XRP’s trajectory.
Conclusion: A Significant Milestone on the Horizon
To sum up, XRP’s recent price upswing, along with its impressive performance against Bitcoin and Ethereum, has revived interest in its potential to overtake Ethereum. While reaching a price of $6.74 requires a substantial 137% surge, XRP’s sturdy trajectory and the confidence of market analysts indicate that this milestone may be within reach in the near future. The upcoming months will be crucial in determining whether XRP can maintain its upward trajectory and secure its position as the second-largest cryptocurrency by market capitalization.
