Ripple will overtake BTC if it hits US$ 6.8. And it doesnt seem impossible.
Ripple (XRP) would need to hit a price of US$ 6.8 to surpass the market capitalization of Bitcoin. Market capitalization is the total value of coins in circulation and is computed by multiplying the price per coin and the number of coins in circulation.
Ripple's price doesn't need to go much higher in dollar terms if it's to become the biggest, because it has more coins in circulation that bitcoin. Ripple's current circulation is 38,739,144,847 digital coins. At today's price of $2.56, its market cap is $99.54 billion, according to CoinMarketCap.com. Bitcoin's market cap, meanwhile, was $259.6 billion on Tuesday with 16,789,587 coins in circulation. For ripple to surpass this, the cryptocurrency would only need to get to $6.80. This would require a rise of 164.5 percent, which is small considering it rose nearly 36,000 percent last year.
Ripple has seen fairly strong rally to begin the year as against what bitcoin has witnessed.
At the outset such valuation seem unsustainable in contrast to other conventional asset classes. Tesla, with its revolutionary offering and business model in place, has managed to gain a market valuation of only US$ 54B. It is hard to digest Ripple's XRP (which by the way doesn't payout dividend or doesn't represent any stake in the company) being valued more than Tesla.
Crypto Markets have so far surprised everyone. We will have to wait and watch!
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