While Bitcoin, along with most cryptocurrencies, has severly decreased, Ripple kept getting stronger and gained value against Bitcoin.
Ripple has taken the second place from Ethereum in the market cap leaders, and currently, the two coins are almost $4 Billion away, which is around 23% from each other. Is Ripple aiming to replace Bitcoin for the long-term as the top cryptocurrency? Crypto experts from all around had to deal with that question.
XRP bulls are coming in
In addition to the price increase, Ripple has had a series of positive events in the past few weeks, which included new partnerships and trading platforms, as well as increased adoption for the cryptocurrency. Nowdays, the crypto community’s social media is buzzing with people who are bullish on Ripple, even to surpass Bitcoin.
“One of these is $BTC, and the other is $XRP. Same time frame, same time,” @Simon_Rees emphasized on Twitter the difference between Ripple and Bitcoins’ charts.
— (@Simon_Rees) November 19, 2018
“While everyone focused on $BTC, I went and got some $XRP. That’s where my focus will remain,” entrepreneur David Gokhshtein tweeted.
“$XRP pushed ahead of Ethereum in market cap, a lead which has grown to more than $2 Billion (now almost 4). From xRapid interoperability to a new partnership with one of Asia’s largest banks, the pump follows a week of nonstop news on #Ripple and XRP,” Twitter user @PhillipNunnUK stated.
There are critics too
Not everybody is bullish on XRP. Despite the cryptocurrency’s second rank among all coins, Ripple has received criticism for being centralized and governed by large banks, which is the opposite of the purpose of cryptocurrencies.
“$XRP will never replace $BTC because it doesn’t offer the same value proposition. It’s good for what it is (a cheaper and faster SWIFT) and congrats to anyone who made money off it, but it’s not permissionless decentralized money without masters,” Rocky or @CryptoHustle stated.
$XRP will never replace $BTC because it doesn’t offer the same value proposition. It’s good for what it is (cheaper and faster SWIFT) and congrats to anyone who made money off it but it’s not permissionless decentralized money without masters.
— ฿TF%$D! (@CryptoHustle) November 18, 2018
Others were not as friendly as Rocky: “If you sincerely believe $XRP will flip $BTC you might want to get an MRI scan,” Zissou tweeted.
“The higher $XRP climbs, the more I am certain it will flip $BTC in 2019. Very obvious this will be our new crypto standard. Hard to accept for many but so was Bitcoin back in 2010,” user Bitlord tweeted sarcastically. “Ripple actually combines the best (and worst) of both worlds: Decentralisation + Crypto and banking = unstoppable.”
Very obvious this will be our new crypto standard.
Hard to accept for many but so was bitcoin back in 2010
— 01 (@Crypto_Bitlord) November 18, 2018
Bitcoin SV developer Craig Wright even called Ripple “the biggest scam in the space.”
“I look forward to when this sham offer is revoked. This idea of issuing non-registered securities and selling to noobs who want to get rich without working is nothing new, and neither will be the take-down,” he tweeted.
XRP is the biggest scam in the space. I look forward to when this sham offer is revoked. This idea of issuing non-registered securities and selling to noobs who want to get rich without working is nothing new and neither will be the take-down.
— Dr Craig S Wright (@ProfFaustus) November 18, 2018
As of now, it seems apocalyptic to see Ripple flipping Bitcoin, but the crypto world is very unpredictable. One thing to bear in mind – Bitcoin’s current market cap is 4.5X the cap of Ripple.