XRP to Overtake Ethereum by 50%

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According to analyst Sam Ruskin from blockchain research firm Messari, it’s possible that the value of XRP could exceed Ethereum within the upcoming month. Ruskin believes this could happen due to a combination of factors such as growing market excitement, political shifts, and a heightened interest in established cryptocurrencies, often referred to as “classic coins” or “ancient coins”.

Market Trends Favor XRP

Ruskin pointed out that XRP has experienced remarkable growth, with an increase of 460% following the U.S. presidential election on November 5, 2024. He suggested that market sentiment is closely tied to significant external events like Donald Trump’s re-election. In a post titled “The Argument for XRP Overtaking ETH“, Ruskin predicted that the inauguration might lead to a substantial buying surge for XRP, much like the post-election rally seen in 2016.

This increase has made XRP a preferred choice for both individual and institutional investors, given the increasing anticipation about the potential approval of an XRP-based exchange-traded fund (ETF) in the U.S. under the current administration. Ruskin also noted that new U.S. tax laws, which may advantage domestic cryptocurrency ventures, could potentially boost investment in XRP even more.

Ethereum Faces Challenges

As XRP continues to pick up steam, Ethereum, the second-largest cryptocurrency by market capitalization, seems to be facing challenges. Ruskin observed that despite reaching unprecedented levels of open interest, Ethereum remains 30% below its peak price of $4,800. This disparity indicates a lack of strong investor interest and internal issues within the Ethereum community, such as divisions and competition from emerging blockchain networks. The recent introduction of Trump Meme Coin on Solana led to a 15% surge in Solana overnight, but had a negative impact on ETH, making Solana the preferred platform for token launches in the wider market.

On the other hand, XRP has shown a clear correlation between its price fluctuations and open interest, suggesting a higher degree of investor confidence. As per Ruskin’s analysis, this trend could cause XRP’s price to rise by 35-50% over the coming months after Trump’s presidency, potentially bringing its market value closer to Ethereum’s impressive $415 billion valuation.

Record-Breaking Performance

In the past few days, the price of XRP has been getting very near to its highest point ever, which was $3.40 back in January 2018. On Thursday alone, it reached a peak of $3.38, marking an impressive increase of 45% over the last seven days. This surge in value has certainly brought XRP into sharper focus, as its value has risen by a massive 560% since Election Day.

As an analyst, I find myself consistently impressed by Brad Garlinghouse’s proactive leadership at Ripple. With over $143 billion of XRP held within our organization, we are not resting on our laurels. Rather, Ripple is actively exploring potential acquisitions that could bolster our presence in the burgeoning crypto space. In fact, recent reports suggest that we are engaged in talks with various startups, and anticipate ramping up our deal-making efforts. Our ultimate aim is to foster tokenization and further solidify our footing in this dynamic industry.

Ripple’s Strategic Moves

Lately, Ripple entered the stablecoin sector with the introduction of the RLUSD token. This digital asset has witnessed an increase in trading activity on several platforms. Their novel Tokenization approach entails purchasing companies specializing in cryptocurrency storage and stablecoin operations to strengthen their presence in a market that’s becoming progressively more competitive.

Furthermore, despite the ongoing legal disputes between Ripple and the U.S. Securities and Exchange Commission, this did not hinder its forward momentum. On the contrary, the company has taken up the challenge, expanding operations as investor confidence grows and a more favorable regulatory climate emerges under the new administration.

XRP’s Future Prospects

As the market continues to change, XRP’s future looks increasingly optimistic. If an XRP ETF gets approved, along with growing investor interest and strategic purchases, this cryptocurrency seems ready for substantial expansion. Yet, whether it will eventually outpace Ethereum in terms of market capitalization is uncertain, as many factors depend on external influences and the overall crypto market’s success.

At present, Ripple’s XRP updates are favorable. The surge in XRP’s price indicates its durability and Ripple’s increasing impact within the dynamic cryptocurrency sector. There’s speculation that XRP might be approved for integration into an American Crypto Reserve under President Trump, which could further boost XRP’s potential. Given this context, it seems plausible to revise your price forecasts; XRP may reach unprecedented heights by 2025, potentially even reaching the moon in cryptocurrency terms.

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2025-01-19 23:24