Ripple’s XRP has been teetering between position 2 and 3 by market cap with Ethereum for several months. XRP looks to be solidly in second place, and there is speculation among experts that it may dethrone Bitcoin as the largest cryprocurrency by market cap. XRP below past Ethereum when its price exceeded $0.5. The most recent bull run suggests that this lead will be maintained. I strongly believe XRP will become the largest cryprocurrency by marketcap by 2019.
XRP has recently broken out above $0.5, which is a key psychological and technical resistance level. The charts and technical analysis suggest a strong move to $0.6. At these levels, XRP is and will be solidly in the #2 position. Ethereum is unlikely to match these movements in the market. From a technical perspective, XRP is going to make a run for Bitcoin’s crown.
Ripple’s XRP is a loved and hated coin. It has a massive supply of 100 billion total coins, and a large amount of the currency is held by the founders and company. XRP’s all time high of $3.5 per coin during last year’s bubble briefly propelled it above Ethereum, but the market crash erased those gains. XRP has the distinct advantage of being very business focused and beloved for its fast transaction speeds.
In order to bear Bitcoin’ s market marketcap, XRP must climb above $5. Could this happen? Yes. Some major catalysts that will propel XRP to the number one cryprocurrency include an inclusion on Coinbase as the cheapest coin, it’s cross border financial transaction success against SWIFT at Ripple Labs, the inclusion of XRP on more exchanges and wallets and the coming stock market crash.
Investors are expecting a bull run in 2019, and any adoption of cryprocurrency will help XRP. Altcoins have traditionally followed Bitcoin, as it has a dominance in the cryprocurrency market of 50% or more. If XRP becomes the largest cryprocurrency this trend may change, which could dramatically alter the way altcoins move. I am excited to see this play out!