Popular media personality Ben Armstrong (BitBoy) has commented on the recent achievement of XRP, in which the asset has moved an inch closer to Ethereum.
In a tweet on Friday, Armstrong reiterated his long-held belief that XRP will overtake Ethereum in market cap during this bull run. This latest disclosure comes as XRP now ranks as the fifth-largest crypto asset by market cap, surpassing Binance Coin (BNB).
The flip occurred yesterday when XRP reached the $1.70 price point, elevating its market cap to $97 billion and allowing it to surpass BNB. Meanwhile, the gap between XRP and BNB has continued to widen as XRP’s price has advanced even further.
XRP has now reached a new three-year high of $1.94. At this price, XRP boasts a market cap of over $110 billion, bringing it closer to Solana (SOL).
Solana currently has a market cap of $117 billion, leading XRP by $7 billion. However, XRP could surpass Solana in market valuation if its price reaches $2.10, especially if SOL’s price fails to move proportionally. This would put XRP just behind Ethereum (ETH), the altcoin leader.
Ethereum Cannot Hide from XRP
Amid the impressive movements, market commentators like Armstrong reiterate that XRP will overtake Ethereum this season. “ETH, you can run, but you can’t hide [from XRP],” BitBoy remarked.
Notably, Ethereum is currently trading at $3,704, giving it a market cap of $445.16 billion. With XRP’s market cap at $110 billion, its price would need to increase fourfold to approach Ethereum’s valuation.
While this goal seems ambitious, XRP has demonstrated spectacular price increases of similar magnitude recently. Just on November 4, XRP was trading at $0.4968, but it has since surged by 291% to $1.94. During the same period, Ethereum’s value has grown by only 40%.
If XRP continues its remarkable price surge and Ethereum’s growth remains modest, it could set the stage for the flip.
XRP Price When It Attains Ethereum Market Cap
Notably, if XRP approaches Ethereum’s current valuation, it would correspond to a price of around $8, an estimate many analysts believe XRP could reach during this bull season.
However, critics are skeptical about the possibility of XRP overtaking Ethereum in market cap. They argue that it is an overly ambitious goal for XRP this season, with some predicting that XRP’s bull run could lose steam between the $3 to $5 price range.
Nevertheless, those who believe XRP could reach double-digit prices remain confident that the flip will happen.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
