XRP
XRP Market Cap Would Require Major Multiples to Match Bitcoin Valuation
Comments from Ripple's David Schwartz have renewed discussion on whether XRP could outgrow Bitcoin, though current valuations remain separated by nearly 1.5 trillion dollars.
Ripple CTO Emeritus David Schwartz stated during an X Spaces discussion on September 9 that he sees XRP eventually surpassing Bitcoin in market capitalization. Schwartz emphasized that any potential flip would occur through XRP appreciating faster than Bitcoin in an expanding broader market, rather than as a result of Bitcoin contracting. He did not assign a date, price level, or specific milestone to the forecast.
The valuation difference between the two assets remains wide. As of September 12, XRP traded at $1.36 with a market cap between $85 billion and $89 billion, while Bitcoin traded around $77,310 with a capitalization near $1.54 trillion to $1.58 trillion. To equal Bitcoin's current market cap, XRP's price would need to reach approximately $24.50 across its 62.7 billion circulating tokens, a level 6.4 times higher than its historical peak of $3.84 reached in January 2018.
Historical precedent includes early 2018, when XRP briefly overtook Ethereum as the second-largest digital asset with an $86 billion market capitalization. However, closing the current gap with Bitcoin presents a substantially larger hurdle, as XRP trails Bitcoin's size by a factor of 18.
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