XRP, the cryptocurrency associated with Ripple, has recently made significant strides in the market, solidifying its position as the fourth-largest crypto asset. The asset’s newfound success has led to discussions among market watchers about the possibility of XRP surpassing Tether (USDT), Ethereum (ETH), or even Bitcoin (BTC) in market capitalization. However, achieving such feats would require remarkable rallies and stand as a testament to XRP’s potential in the cryptocurrency landscape.
If XRP takes over USDT (Tether) for the number 3 spot the price will be $1.60ish per XRP
If XRP takes over ETH (Ethereum) for the number 2 spot the price will be $4.80ish per XRP
If XRP takes over BTC (Bitcoin) for the number 1 spot the price will be $9.60ish per XRP
— Vincent Kennedy (@VincentCrypt46) July 20, 2023
Challenging USDT’s Dominance
USDT, the largest stablecoin with a market capitalization of $83.81 billion, poses a significant challenge for XRP. Currently, XRP’s market cap stands at $40.54 billion with a circulating supply of 52.5 billion tokens. To overtake USDT, XRP would need to rally to the $1.60 price territory, marking a 107% increase. While this target seems feasible, it demands an impressive rally from the current price of $0.7714.
The Tough Battle with ETH
Surpassing Ethereum’s market cap is a more formidable task for XRP. ETH’s valuation of $227.64 billion solidifies its position as the second-largest crypto asset, nearly three times that of USDT. To dethrone ETH, XRP would need to rally to the $4.80 price territory, marking a 457% increase. However, a rally to $4.30 might suffice to overtake Ethereum as the second-largest crypto, requiring a 412% surge.
The Daunting Task of Overtaking BTC
Ousting Bitcoin from its position as the leading crypto asset is an exceptionally challenging goal. BTC’s valuation of $581 billion has been unshaken throughout its history. For XRP to overtake BTC, it would need to soar by a staggering 1,338% to reach $11.1. Market watchers project that the only asset with a chance to challenge Bitcoin’s dominance is Ethereum, requiring a 156% increase to $4,850.
XRP’s recent successes have fueled discussions about its potential to surpass major crypto assets like USDT, ETH, and BTC in market capitalization. While the targets may seem ambitious, XRP has demonstrated its capability to make significant rallies in the past. However, achieving such milestones will not only depend on XRP’s performance but also on the overall dynamics of the cryptocurrency market. As the crypto industry continues to evolve, investors and enthusiasts will be keenly watching how XRP’s journey unfolds in the coming months and years.