thecryptobasic.com
Amid the $XRP momentum, Dom Kwok, a former Goldman Sachs employee, insists there is a high chance that $XRP flips Ethereum “very soon.”
$XRP has been on an impressive run since November 2024, when it soared with the rest of the market following the U.S. presidential election. As the momentum picked up, $XRP outperformed the broader crypto market, hitting $3.39 before facing resistance and consolidating now.
However, after a period of range-bound movements, $XRP again rallied at a more substantial pace than the rest of the market last weekend, soaring 10% on Saturday, Jan. 11 while the broader market lagged. This pushed the XRPETH pair, which tracks $XRP’s performance against Ethereum, to a 50-month peak of 0.0007885.
“High Chance $XRP Flips Ethereum Soon”
Following a slight pullback on Sunday, $XRP resumed the uptrend in the new week, with the XRPETH pair reaching a new top of $0.0008818 earlier yesterday. Amid this impressive momentum, Dom Kwok, a former Goldman Sachs analyst and co-founder of EasyA, made a bullish statement.
According to Kwok, there is now a high chance that $XRP will overtake Ethereum to become the second-largest crypto asset. He noted that this event could materialize “very soon.”
High chance that $XRP flips ETH very soon.
Are you ready for a new world order, anon? pic.twitter.com/bP3UjFVnEY
— Dom | EasyA 🤳📱 (@dom_kwok) January 15, 2025
“Are you ready for a new world order?” Kwok quipped alongside his bold prediction, suggesting he sees such an event as a pivotal one. Kwok has always been bullish on the $XRP ecosystem, recently touting the massive capital that could come from RWA tokenization on the XRPL.
Notably, Kwok’s latest commentary on the $XRP-Ethereum market dynamics comes on the back of renewed discussions around $XRP’s potential to flip Ethereum amid $XRP’s outperformance. For context, $XRP has gained by a massive 351% against Ethereum since November 2024.
$XRP Market Cap Hits $177B
Interestingly, following Kwok’s remark earlier yesterday, $XRP skyrocketed to reach a new milestone of $3.39 for the first time since January 2018. Despite a mild pullback, $XRP has held above $3, with its market cap now sitting at $177 billion, representing an addition of $15.8 billion since Kwok’s commentary.
However, Ethereum’s market cap has increased by a more substantial rate, currently at $407 billion. In this position, $XRP must increase to $7.07 to overtake Ethereum in market valuation. Nonetheless, this assessment assumes that Ethereum’s price would remain relatively stable, which is unlikely.
Currently trading for $3.10, $XRP would need to increase by 129.5% to reach this $7 price mark necessary to flip Ethereum. Notably, market commentator EGRAG Crypto believes a $7.5 price looms for $XRP. Last October, he predicted that $XRP could soar to $7.5 once it breaks the resistance at what he calls the Genuine Wake-Up Line.
Meanwhile, at the current $3.11 price, $XRP boasts an impressive 31.26% gain over the past week and an 8.7% rise in the last 24 hours. The asset is already up 49% this year, while Ethereum only sees a 1.45% gain.