Crypto influencer Ben Armstrong, also known as BitBoy, recently shared his bold perspective that XRP could surpass Bitcoin in terms of market dominance in the upcoming bull cycle. While he doesn’t foresee XRP overtaking Bitcoin’s market capitalization in the immediate future, Armstrong strongly believes that XRP will challenge Bitcoin’s dominance and possibly outperform it during this rally. Let’s break down his reasoning and what this means for the future of XRP in the crypto market.

XRP vs. Ethereum: The Race for the Second Spot

A key aspect of Armstrong’s analysis centers around the ongoing battle for the number two spot in the cryptocurrency market—between XRP and Ethereum. Ethereum has consistently held this position for years, but XRP briefly surpassed it in 2018. Armstrong sees this as a sign that XRP has the potential to reclaim that spot, especially during a market rally.

Armstrong argues that XRP’s growing appeal as a cross-border payment solution is a significant factor in its potential rise. XRP has attracted attention from countries and institutions around the world, including BRICS nations (Brazil, Russia, India, China, and South Africa), and major Western financial bodies like the IMF. This global appeal sets XRP apart from other cryptocurrencies, positioning it as a major player in the future of international finance.

Meanwhile, Armstrong points out Ethereum’s continuing dominance in decentralized finance (DeFi), which has led to institutional adoption. However, Ethereum’s scalability challenges—such as slower transaction speeds compared to newer blockchain projects like Solana—could hinder its ability to attract a broader audience, particularly among retail investors. While Ethereum will likely remain the preferred option for institutions seeking stability and security, retail investors might turn to faster alternatives like XRP, which offers quicker transaction speeds and lower costs.

XRP’s Potential to Surpass Ethereum

While Ethereum’s position is fortified by its role in DeFi, Armstrong believes that XRP has a strong chance to surpass Ethereum’s market cap during this bull cycle. At present, Ethereum’s market cap stands at around $411 billion, nearly four times that of XRP’s $128 billion. Armstrong suggests that in order for XRP to bridge this gap, its price would need to rise to at least $7, a figure he believes is achievable as the market heats up. Furthermore, Armstrong has boldly predicted that XRP could potentially reach $22, which would push its market cap to an impressive $1.26 trillion.

This surge in price would not only make XRP more valuable but also more influential in the global financial ecosystem. XRP’s unique use case as a bridge currency for international transactions could help it attract significant institutional and governmental interest, ultimately driving its value higher and positioning it as a critical player in the world of digital payments.

XRP and Bitcoin Dominance: A Shift in Power

While Armstrong doesn’t predict that XRP will surpass Bitcoin’s market cap in the short term, he expects XRP to make significant strides in terms of dominance. The key to this shift lies in XRP’s growing adoption and use as a bridge currency, particularly in cross-border payments, which could lead to greater market penetration. Armstrong notes that Bitcoin’s dominance in the market has already experienced a slight dip due to XRP’s recent rally.

In November 2024, Bitcoin’s dominance fell by 6%, with XRP contributing 3% of that decline. During this period, XRP saw a price surge of over 450%, and its market cap grew more than fivefold, reaching $154.83 billion. While Bitcoin’s dominance has since rebounded to around 60%, Armstrong is confident that this pattern will repeat, and XRP will continue to eat into Bitcoin’s market share as its use case gains wider adoption.

Conclusion

BitBoy’s prediction paints an optimistic future for XRP. While the coin may not immediately surpass Bitcoin in terms of market cap, its dominance and influence in the market are expected to grow substantially. As XRP continues to position itself as a bridge currency for global payments, it stands to benefit from increasing adoption, both from institutions and retail investors. The coming years could see XRP not only challenge Ethereum for the number two spot but also take a substantial bite out of Bitcoin’s dominance, making it one of the most exciting projects in the crypto space.