Crypto analyst Ben “BitBoy” Armstrong has made a bold prediction that XRP will surpass Ethereum as the second most prominent cryptocurrency after Bitcoin. Armstrong shared his perspective on XRP and Ethereum in a recent commentary, stating that XRP’s rise to the number two spot will occur when its value reaches between $16 and $22.
Armstrong highlighted the ongoing debate over which Layer-1 token will overtake Ethereum by 2025. While Solana (SOL) is seen as a close rival to ETH in terms of market cap, Armstrong believes that XRP will ultimately take the number two spot.
He pointed out that XRP has already flipped Ethereum once before in 2018 and believes that history will repeat itself. Armstrong emphasized that XRP is not directly competing with Ethereum, as they cater to different sectors within the crypto industry.
In terms of Ethereum’s future, Armstrong expects it to face competition within its own space, particularly in the realm of smart contracts. He predicts that ETH will struggle in the ongoing bull run due to intense rivalry in this area.
According to BitBoy, Bitcoin and XRP are the top two crypto assets with no real competition for their market positions. He sees XRP as the chosen asset for liquidity across borders in the next bull run.
To surpass Ethereum, Armstrong suggests that XRP would need to rally by up to 3,000% this season. Currently, XRP has a market cap of $30.84 billion, while Ethereum’s market cap is over ten times larger at $319 billion. If XRP experiences a 30X surge as projected, its price could reach $16.8, resulting in a market cap of approximately $956 billion. Armstrong’s highest estimate places XRP’s price at $22, with a market cap of around $1.2 trillion.
Armstrong believes that factors such as banking partnerships, XRP ETFs, Ripple’s IPO, and BRICS adoption will contribute to these high valuations. He asserts that the flip from Ethereum to XRP is not a matter of if, but when, and that XRP is about to make a significant impact on the world.
However, it’s important to note that XRP’s price action during the current bull run has been weaker compared to Ethereum’s. Ethereum has seen a year-to-date gain of 16%, while XRP has shown a negative figure of 11.4%. In January 2018, XRP briefly overtook Ethereum but lost its position within a week.
While BitBoy’s prediction of XRP surpassing Ethereum in market cap is highly speculative, he believes that Ethereum will not experience a comparable price surge to XRP this season, providing an opportunity for XRP to take the lead.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s opinions and do not necessarily reflect the opinions of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
