thecryptobasic.com
Popular media personality Ben Armstrong (BitBoy) has commented on the recent achievement of $XRP, in which the asset has moved an inch closer to Ethereum.
In a tweet on Friday, Armstrong reiterated his long-held belief that $XRP will overtake Ethereum in market cap during this bull run. This latest disclosure comes as $XRP now ranks as the fifth-largest crypto asset by market cap, surpassing Binance Coin ($BNB).
The flip occurred yesterday when $XRP reached the $1.70 price point, elevating its market cap to $97 billion and allowing it to surpass $BNB. Meanwhile, the gap between $XRP and $BNB has continued to widen as $XRP’s price has advanced even further.
$XRP has now reached a new three-year high of $1.94. At this price, $XRP boasts a market cap of over $110 billion, bringing it closer to Solana ($SOL).
Solana currently has a market cap of $117 billion, leading $XRP by $7 billion. However, $XRP could surpass Solana in market valuation if its price reaches $2.10, especially if $SOL’s price fails to move proportionally. This would put $XRP just behind Ethereum ($ETH), the altcoin leader.
Ethereum Cannot Hide from $XRP
Amid the impressive movements, market commentators like Armstrong reiterate that $XRP will overtake Ethereum this season. “$ETH, you can run, but you can’t hide [from $XRP],” BitBoy remarked.
Notably, Ethereum is currently trading at $3,704, giving it a market cap of $445.16 billion. With $XRP’s market cap at $110 billion, its price would need to increase fourfold to approach Ethereum’s valuation.
While this goal seems ambitious, $XRP has demonstrated spectacular price increases of similar magnitude recently. Just on November 4, $XRP was trading at $0.4968, but it has since surged by 291% to $1.94. During the same period, Ethereum’s value has grown by only 40%.
If $XRP continues its remarkable price surge and Ethereum’s growth remains modest, it could set the stage for the flip.
$XRP Price When It Attains Ethereum Market Cap
Notably, if $XRP approaches Ethereum’s current valuation, it would correspond to a price of around $8, an estimate many analysts believe $XRP could reach during this bull season.
However, critics are skeptical about the possibility of $XRP overtaking Ethereum in market cap. They argue that it is an overly ambitious goal for $XRP this season, with some predicting that $XRP’s bull run could lose steam between the $3 to $5 price range.
Nevertheless, those who believe $XRP could reach double-digit prices remain confident that the flip will happen.