Less than 2 hours ago, and through our partner publication of Crypto Crimson we anticipated the rise of XRP to slot number 2 by eliminating Ethereum (ETH) in the process. When the forecast was made, XRP was approaching an Ethereum (ETH) of $ 2.1 billion on digital assets in terms of market capitalization. We did not anticipate that the event would occur so quickly and our estimates had stated that XRP had to be valued at $ 0.58 to achieve this venture
Looking at coinmarketcap.com, XRP literally magnified Ethereum as we can see in the screenshot below. The digital asset has a comfortable advantage over Ethereum and $ 1,224 billion in market capitalization.
Will XRP keep the number 2 Spot?
From an optimistic point of view, and since xRapid should go live in the next month or so, the rise of XRP to No. 2 can be classified as permanent for the foreseeable future. Ethereum (ETH) has faced many FUDs in the last few weeks that have been accelerated by the false news of Goldman Sachs that delayed the launch of a Bitcoin exchange and cryptography.
Perhaps when the scalability problems on the Ethereum network are completely resolved using sharding, we should see an ETH resurrection in the markets.
To answer the question of whether the Bitcoin will be dethroned by XRP, it is necessary to remember that David Schwartz had explained the theory that the XRP register is more decentralized than both the Bitcoin and Ethereum blockchain networks.
Mr. Schwartz explained to the community this crypt through a very detailed post on the ripple website. In it, he stated that:
Bitcoin and Ethereum are currently considered the gold standard for decentralization …
Since these blockchains are considered decentralized, so by design, the XRP Ledger is also – if not of more decentralized than both Bitcoin and Ethereum.
XRP Ledger uses a consent protocol that is based on the majority of validators to record and verify transactions without encouraging anyone (this is one of the main reasons why I started working on XRP Ledger more than six years ago). Validators are different from miners because they are not paid when ordering and validating transactions.
How much is XRP worth, to Flippen Bitcoin?
Given the current Bitcoin market cap for $ 116.219 billion, XRP needs to be valued at $ 2.91 to dethrone Bitcoin from the top .
What do you think of XRP that is touching Ethereum from point 2? Will you support second to Bitcoin? And will the BTC be definitively dethroned by XRP? Please tell us what you think in the comments section below.
Disclaimer: this article is not intended to give financial advice. Any opinion here is purely that of the author and does not represent the opinion of Ethereum World News or its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thanks .