Attorney John Deaton has expressed strong optimism that XRP could surpass Ethereum, potentially becoming the second-largest cryptocurrency in the market. In his recent appearance on the Thinking Crypto Podcast, Deaton shared his thoughts on the growing influence of cryptocurrencies, particularly in the wake of Wall Street’s increasing involvement in the space.
Deaton highlighted the success of Bitcoin’s spot ETFs, especially BlackRock’s iShares Bitcoin ETF, which became the most successful ETF in history, attracting more funds in one year than gold did over two decades. He believes that this success will inspire Wall Street to replicate the model for other cryptocurrencies like XRP and Solana. With this in mind, Deaton is confident that XRP’s position could rise significantly in the near future.
XRP is currently the third-largest cryptocurrency by market cap, and Deaton sees a “real good chance” of it overtaking Ethereum. He projects that XRP could reach a price of around $8, which would allow it to surpass Ethereum’s market capitalization. This prediction is grounded in the current market dynamics, where Ethereum’s growth has stalled, while XRP has been on an impressive upward trajectory.
Deaton’s view is supported by other figures in the crypto community. Legendary trader Peter Brandt has predicted a market cap for XRP at $500 billion, which would equate to a price of $8.74. Similarly, popular influencer Ben Armstrong (BitBoy) has expressed even more bullish sentiment, suggesting that XRP could potentially reach as high as $22.
XRP has already shown significant growth, increasing over 505% in the past 90 days. Currently priced at $3.10, XRP would only need to rise by 158% to reach the $8 mark, surpassing Ethereum’s market value of $401 billion. This potential leap could position XRP as the dominant altcoin, pushing Ethereum to third place if Ethereum’s growth continues to lag.
While Ethereum has long held the second spot in the cryptocurrency rankings, recent market sentiment has not been favorable. As Bitcoin continues to trade at all-time highs, Ethereum’s growth has stagnated, with a modest 28% increase in the last 90 days. This stagnation has made Ethereum vulnerable to being overtaken by other cryptocurrencies, particularly XRP.
The difference in performance between XRP and Ethereum in recent months is stark. With XRP seeing significant price growth, Ethereum’s minimal movement has allowed XRP to close the gap, positioning the former for a potential rise to the top.
Despite his optimistic outlook on XRP, Deaton also addressed the tribalism within the crypto community. He acknowledged that when a particular cryptocurrency performs well, those who do not hold it can become envious or dismissive. Deaton called for a more cooperative approach within the industry, urging the community to work together rather than focusing on the “my coin is better than yours” mentality. He emphasized that the recovery from past regulatory challenges in the crypto space will require unity and collaboration.
Deaton’s prediction of XRP potentially surpassing Ethereum reflects the growing optimism around XRP’s future. With increasing institutional interest and significant price growth, XRP is positioning itself as a strong contender to overtake Ethereum. Whether this will come to fruition depends on various factors, including Ethereum’s ability to regain momentum and the broader market sentiment. Regardless, the ongoing rivalry between the two assets highlights the evolving dynamics within the cryptocurrency landscape.
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