Ben Armstrong, popularly known as BitBoy, has reiterated his belief that XRP could surpass Ethereum in market capitalization during the ongoing bull run.
Armstrong, a prominent crypto commentator, made the remarks following XRP’s recent significant milestone, where it surpassed Binance Coin (BNB) to claim the fifth spot among cryptocurrencies by market cap.
$XRP has flipped $BNB, and it’s just a quick, easy pump away from flipping $SOL. $ETH you can run, but you can’t hide!
— The BitBoy (@BenArmstrongsX) November 29, 2024
XRP Outpaces BNB, Climbs to Three-Year High
On Friday, XRP overtook BNB after reaching $1.70, propelling its market capitalization to $97 billion. This marked a significant achievement for XRP, which has since gained momentum.
As of the latest data, XRP is trading at $1.86, reflecting a slight pullback from its recent peak of $1.94—the highest price recorded in three years. The asset currently holds a $107 billion market capitalization, solidifying its position as one of the leading cryptocurrencies.
This development has widened the gap between XRP and BNB, solidifying XRP’s fifth-place position. The new valuation brings XRP within striking distance of Solana (SOL), the fourth-largest cryptocurrency by market cap.
Solana holds a market capitalization of $117 billion, maintaining a $10 billion lead over XRP. Analysts suggest XRP could surpass Solana if its price reaches $2.10, assuming Solana’s price does not see a proportional increase. Achieving this milestone would position XRP directly behind Ethereum, which leads the altcoin market.
Ethereum Under Pressure from XRP’s Surge
Amid XRP’s recent progress, Armstrong has emphasized his long-standing prediction that XRP will surpass Ethereum. In a tweet, Armstrong stated, “ETH, you can run, but you can’t hide (from XRP),” signaling his confidence in XRP’s upward trajectory.
Ethereum currently trades at $3,705, with a market capitalization of approximately $446.27 billion. By comparison, XRP’s market cap of $107 billion highlights a significant gap between the two. For XRP to match Ethereum’s valuation, its price would need to quadruple, reaching roughly $8.
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Although such a scenario may seem ambitious, XRP’s recent performance suggests it is not impossible. Since November 4, XRP has surged from $0.4968 to $1.94, representing a remarkable 291% increase.
In contrast, Ethereum’s price has grown by just 40% over the same period. If XRP’s growth continues at this pace and Ethereum’s rise remains modest, the possibility of XRP closing the gap becomes more plausible.
Can XRP Reach Ethereum’s Market Cap?
Reaching Ethereum’s market valuation would require XRP to sustain its bullish momentum. Should XRP achieve a market cap of $445 billion, the asset’s price would align with the projected $8. However, some critics view this target as overly optimistic, citing the likelihood of resistance between the $3 and $5 price levels.
Despite these concerns, many XRP proponents remain confident that the cryptocurrency could reach double-digit prices during this cycle, potentially leading to the much-anticipated “flip” of Ethereum.
The coming weeks will be critical in determining whether XRP can maintain its upward trajectory and challenge Ethereum’s dominance. Armstrong and other bullish commentators remain steadfast in their belief, but market dynamics will ultimately dictate the outcome.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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