Popular media personality Ben Armstrong (BitBoy) recently commented on the latest achievement of XRP, stating that the asset is inching closer to Ethereum. In a tweet on Friday, Armstrong reaffirmed his belief that XRP will surpass Ethereum in market cap during this current bull run. This development comes as XRP now holds the position of the fifth-largest crypto asset by market cap, surpassing Binance Coin (BNB).
The shift occurred yesterday as XRP reached $1.70, pushing its market cap to $97 billion and surpassing BNB. The gap between XRP and BNB continues to widen as XRP’s price climbs higher, reaching a new three-year high of $1.94. With a market cap of over $110 billion, XRP is closing in on Solana (SOL), which currently holds a $117 billion market cap.
Armstrong and other market commentators believe that XRP will eventually overtake Ethereum. With Ethereum trading at $3,704 and a market cap of $445.16 billion, XRP would need to increase fourfold to approach Ethereum’s valuation. Despite the ambitious nature of this goal, XRP has shown significant price surges recently, with a 291% increase from $0.4968 to $1.94 since November 4, compared to Ethereum’s 40% growth.
If XRP continues its impressive price surge and Ethereum’s growth remains modest, the stage could be set for a market cap flip. Some analysts estimate that if XRP reaches Ethereum’s current valuation, its price could reach around $8, a possibility that many believe could occur during this bull season. However, critics are skeptical about XRP overtaking Ethereum in market cap, with some predicting a slowdown in XRP’s bull run between the $3 to $5 price range.
Despite the skepticism, supporters of XRP reaching double-digit prices remain confident that the market cap flip will eventually happen.