How can one asset overthrow another and take the top spot? Because the top position might take many different forms, there is no easy solution. The most typical of which is market capitalization (particularly when discussing equities). However, there are further quantifiers.
For instance, when it comes to trading activity in the cryptocurrency market, numerous cryptocurrencies have left the top dog Bitcoin (CRYPTO:BTC) in the dust. But only Ethereum has a possibility of outpacing Bitcoin in terms of market capitalisation. Due to its secondary markets and associated investment assets, it may even be slightly more well-known and well-known than crypto (like NFTs).
Being the next Bitcoin would be difficult for other cryptocurrencies, such as Ripple (XRP), to say the least.
Ripple vs. Bitcoin
There are several distinctions between Ripple and Bitcoin. The only cryptocurrency with its own blockchain is Bitcoin, whereas Ripple was developed as a means of payment settlement. Since it is more likely to be embraced by the current banking and financial systems than Bitcoin, this fact alone makes it a serious rival to Bitcoin (which is still primarily coveted as an investment asset).
Ripple, however, falls short as a legitimate cryptocurrency. Ripple is far less likely to be accepted when using cryptocurrency to pay for goods and services than Bitcoin.
Ripple uses a consensus process, in contrast to Bitcoin’s proof-of-work approach, which is the primary technological difference between the two.
The Next Bitcoin?
The prospects of Ripple becoming the next Bitcoin are quite modest despite the distinctions, many of which are in its favor. By market capitalization, it is now the seventh-largest cryptocurrency, and Bitcoin is around 23 times bigger than Ripple. Therefore, the lesser cryptocurrency is unlikely to unseat Bitcoin as the market leader. If Bitcoin’s price drops from its current five digits to four, it might not even be feasible.
The price tag is no different. While Bitcoin hit almost US$67,500, Ripple’s greatest price per unit was under $4.
In terms of growth potential, Ripple can be seen as a more promising crypto investment than Bitcoin. Ripple outperforms Bitcoin by a wide margin, even if we merely use the previous peak as a standard for comparison. The biggest cryptocurrency is currently trading at a 43 percent loss from its high.
However, if Ripple reaches its all-time high peak in 2017, it will increase your investment money by around five times and by 2.5 times if it reaches its peak in 2021. To get there, Bitcoin will need to surpass a number of obstacles and barriers.