A prominent market commentator has insisted that XRP is actually a threat to Bitcoin’s dominance in the cryptocurrency market.
This bold suggestion came from Charles Shrem, the notable crypto YouTuber and market analyst behind the Blockchain Backer crypto account, who has, over the years, expressed his bullish stance on XRP. Notably, his recent comment comes at a time when XRP is still struggling to keep up with Bitcoin’s recent uptrend.
Bitcoin Outpaces XRP This Year
For context, after XRP gained 222% against Bitcoin from November 2024 to January 2025, it witnessed a massive collapse from February 2025. Notably, since February, XRP has crashed over 39% against Bitcoin. This is due to the fact that while BTC has seen new ATHs since February, XRP has mostly consolidated around $2.
Despite this prevalent pattern, market commentators like Shrem believe XRP has the potential to threaten Bitcoin’s dominance. In his latest commentary, he highlighted in a straightforward manner for the first time that XRP is a threat to Bitcoin, to clarify his position to the general public.
XRP a Threat to Bitcoin?
It bears mentioning that while Shrem had in the past hinted at this position, this is the first time he is boldly declaring it directly. For instance, following Donald Trump’s January 2025 executive order to explore the creation of a “digital asset stockpile,” Shrem suggested that Bitcoiners perceived XRP as a threat.
Specifically, Trump ordered that a team explore the appropriate avenue to create a “digital asset stockpile” instead of a “Bitcoin reserve.” While this triggered concerns among Bitcoin proponents, most of them directed their frustration to XRP, claiming Ripple CEO Brad Garlinghouse had advocated for the inclusion of XRP.
This antagonism persisted despite the executive order having no mention of XRP. In response, Shrem suggested that the reason Bitcoin maximalists had directed their anger at XRP was because they felt threatened by XRP.
The funny thing is… XRP was never mentioned in the executive order. But, the Bitcoiners have always known it’s the threat for the crown.
That’s why the attack is on. They know.
— Blockchain Backer (@BCBacker) January 24, 2025
The constant criticisms from the Bitcoin community eventually led to a full-blown conflict with the XRP community. Amid the conflict, Shrem noted in a subsequent commentary that Bitcoin proponents were indirectly advertising XRP as a threat to overthrow Bitcoin. It is unclear if Shrem referred to their respective market positions or something else entirely.
XRP Price If It Surpasses Bitcoin Market Cap
However, despite the persistent suggestions, XRP is still a long way from recovering the second spot from Ethereum (ETH), much less overthrowing Bitcoin in market position.
For context, currently trading for $2.09, XRP has a market cap of $123.7 billion. To surpass Ethereum’s valuation of $295.3 billion, XRP would need to rise 139% to a price of $5 per token.
Meanwhile, Bitcoin, which currently trades for $107,000, boasts a market cap of $2.125 trillion, being the largest crypto asset in the market. For XRP to overthrow BTC at this current position, its price must rise 1,622% to $36. Interestingly, analyst Dark Defender predicted last October that XRP could reach $36.
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.
