As we all know after the recent development in Ripple vs SEC lawsuit, the popularity and adoption of XRP have increased immensly and the XRP price also surged. XRP's market capitalisation surged by more than 77% to $41.44 billion in the past 7 days.
💼 Here are some intriguing points to consider:
- XRP has also overtook BNB to become 4th largest coin and 2nd largest altcoin.
- XRP has surpassed Bitcoin in daily trading volume of Bitcoin according to some blockchain news websites.
- XRP's success story supported by significant trading volume increase.
- XRP gains popularity in South Korean market, nearing Bitcoin's trade volume.
The Triumph of XRP Over Bitcoin
Founder of the xSPECTAR NFT project, Dirk Schepens, started a discussion on Twitter about XRP's expanding trade volume. None other than David Schwartz, chief technology officer at Ripple, confirmed this claim.
According to Schwartz, the trading volume of XRP is currently quadruple that of Bitcoin price (BTC) as a percentage of its market valuation.
With a trade volume of $3,574,053,006 and a market cap of $44,039,920,411 in the previous 24 hours, XRP's trading activity has been quite remarkable. In contrast, Bitcoin saw trading volume of $11,398,188,517 despite having a far greater market cap of $584,497,409,360. Due to this, XRP has a trading volume-to-market cap ratio of 8.12%, which is significantly greater than Bitcoin's ratio of 1.95%.
XRP Coin Price Prediction 2023
Reaching the high of $0.94, last seen in January 2022, the XRP coin price is set to continue the rally in 2023. XRP investors have taken the news incredibly positively after a major win in three years. The growing confidence improves the Ripple market sentiment making the XRP price prediction for 2023 highly bullish.
Due to the SEC lawsuit, many institutional investors were holding back their move into Ripple. With this win, the investments from the institutions are likely to grow.
The boost in XRP coin price made a high at $0.94, almost reaching $1, and the XRP price today is $0.78. A bullish reversal at breakneck speed projects a high likelihood of Ripple price crossing $1 before the end of 2023.
Setting an uptrend, XRP crypto might create a new high and XRP price prediction is of $1.442 if the buying pressure sustains.
🌟 Let's engage in a healthy conversation, share your thoughts! What do you believe the future holds for XRP? Will it surpass Bitcoin's dominance? 🗣️🤔 Comment below with your insights and predictions. 👇📝