As a seasoned researcher with years of experience delving into the intricacies of cryptocurrencies, I find Dark Defender’s prediction that XRP could flip Ethereum and even challenge Bitcoin’s dominance an intriguing one. While it’s important to approach such predictions with caution, given the volatile nature of the crypto market, there are certainly factors that make this scenario plausible.
According to crypto expert Dark Defender, it’s plausible that the market value of XRP could surpass Ethereum during this market cycle. He presented several arguments supporting this possibility and further asserted that XRP may even dethrone Bitcoin as the dominant cryptocurrency.
Why The XRP Price Can Flip The Ethereum Price
In a recent post on platform X, user Dark Defender presented five arguments as to how the value of XRP could potentially surpass Ethereum. One key point he made was the court decision by Judge Analisa Torres, who classified XRP as a non-security asset. He views this ruling as a significant advantage for the coin.
Additionally, he hinted at the many advancements that Ripple has achieved. Although he didn’t specifically name these advancements, they might encompass recent progress like a cryptocurrency company receiving DFSA approval to extend its payment services to the UAE.
Dark Defender additionally pointed out Central Bank Digital Currencies (CBDCs) and emerging coins like the RLUSD stablecoin as factors boosting his belief that the XRP price will overtake the Ethereum price. Recent news also suggests Ripple may be planning to introduce a Dirham-backed stablecoin in the UAE.
To conclude, the analyst stated that under the presidency of pro-crypto Donald Trump, the U.S. might evolve into a welcoming landscape for cryptocurrencies. Nonetheless, overtaking Ethereum by XRP will prove to be a significant challenge.
At present, Ethereum holds the second position among cryptocurrencies, boasting a market capitalization of approximately $365 billion, while XRP ranks seventh with a market cap of around $31 billion. It’s interesting to note that XRP used to be the second-largest crypto a decade ago, trailing closely behind Bitcoin.
Time To Also Dominate Bitcoin
Dark Defender also indicated that the XRP price could challenge Bitcoin’s dominance for the reasons he mentioned. He remarked that XRP will take over its crown from BTC by being the only crypto asset with regulatory clarity.
In essence, it’s been generally accepted that Bitcoin doesn’t fall under the category of securities. The Chair of the US Securities and Exchange Commission (SEC), Gary Gensler, has confirmed this stance on cryptocurrencies. This is likely why the SEC didn’t raise objections when Bitcoin ETF issuers submitted S-1 forms prior to their approval.
Simultaneously, the analyst predicts that a rally for the price of XRP could start as early as November 24th. This prediction is based on his belief that Bitcoin Dominance has recently reversed in its monthly RSI, similar to how it did in January 2021. He is optimistic about this prediction because he notes that when this happened in 2021, XRP surged from $0.170 to $1.966.
As a crypto investor, I’m buoyed by Mikybull Crypto’s bullish predictions for XRP prices. In a recent post, he hinted at an imminent surge, citing historical performance after election cycles and the typical ensuing rally. The chart he included suggests that we could potentially reach $19. I find this prospect quite exciting!
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2024-11-10 04:38