XRP Edges Closer to Rivaling Ethereum

In recent years, debates within the cryptocurrency space have frequently centered on the potential for Ethereum (ETH) to overtake Bitcoin (BTC) or for Solana (SOL) to surpass Ethereum. Yet, despite the ongoing speculation, neither of these scenarios has unfolded. Now, XRP appears to be emerging as a contender to challenge Ethereum’s prominent position.

Currently trading at $2.87 within the past hour, XRP holds a market capitalization of $164 billion, compared to Ethereum’s $385 billion valuation. This places XRP at 42.6% of Ethereum’s market cap, meaning it would need an additional $221 billion to overtake ETH. With 57,493,120,449 XRP tokens in circulation, the asset is trading approximately 18% below its all-time high, showcasing its potential for growth in the competitive crypto landscape.

XRP’s Journey Toward a New Peak

XRP reached its highest price on January 7, 2017, nearly seven years ago, when each token was valued at $3.40. However, even at that peak, XRP would not have surpassed Ethereum (ETH). If Ethereum’s price and supply remain constant, and XRP’s supply stays unchanged, XRP would need to increase by 133.5% against the U.S. dollar to claim Ethereum’s position. This would place XRP at approximately $6.70 per coin.

Interestingly, XRP has a history of ranking as the second-largest cryptocurrency by market capitalization before being overtaken by Tether (USDT) and Ethereum. At the end of August 2013, XRP held the third spot with a market cap of $47.71 million. By September 22, 2013, it had risen to second place, reaching a valuation of $100.59 million.

XRP’s Shifting Market Rankings and Potential

During the 2013 bull market, Litecoin (LTC) surpassed XRP by the end of the year and maintained its position well into 2014. It wasn’t until October 2014 that XRP reclaimed the second spot, achieving a market capitalization of $138.81 million while trading at $0.004789 per coin. However, the emergence of Ethereum and the subsequent 2016–2017 bull run pushed XRP out of its second-place ranking, which it has not regained. For much of its early history, XRP was valued at less than a single U.S. penny.

XRP’s consistent progress toward narrowing the gap with Ethereum’s market cap underscores its growing potential, though obstacles remain. Achieving a valuation that surpasses ETH will require substantial growth, but XRP’s ongoing momentum suggests that competition at the top could become increasingly fierce. As the cryptocurrency market continues to evolve, XRP’s position will undoubtedly remain a focal point for both investors and analysts.

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