BitBoy Says XRP Set to Flip Bitcoin Dominance Growth: Here’s How

Market commentator Ben Armstrong, better known as BitBoy, predicts that XRP could flip Bitcoin’s dominance growth, explaining how this could happen in a recent video. 

While he’s not claiming XRP will surpass Bitcoin in market cap anytime soon, he strongly believes that XRP will outperform Bitcoin in dominance during this bull run.

XRP vs. Ethereum: The Race for the Number Two Spot

Armstrong began by addressing the ongoing competition between XRP and Ethereum for the second spot in the cryptocurrency rankings. 

While Ethereum has held this position for extended years, XRP briefly overtook it in 2018. Armstrong believes XRP has a strong chance of regaining that spot during this bull cycle. 

According to him, XRP is positioning itself as a major player in the global financial system, with a supposed appeal to both BRICS nations and Western powers like the IMF.

He further elaborates that while Ethereum continues to be adopted by enterprises and institutional investors, regular retail investors may shy away due to Ethereum’s slow transaction speeds, especially when compared to faster blockchains like Solana. 

Nonetheless, Armstrong noted that institutions that don’t require instant transactions will continue to favor Ethereum for its stability and role in decentralized finance (DeFi).

XRP to Challenge Bitcoin After Ethereum

Armstrong is confident that XRP can surpass Ethereum in market cap during this bull run. However, he acknowledges that it’s not a guarantee. While Ethereum will remain an institutional investment tool, he expects XRP to grow rapidly due to its appeal as a bridge currency in the global financial system.

Notably, Ethereum has a market cap of $411 billion, nearly four times that of XRP at $128 billion. XRP’s value must rise above $7 to reach Ethereum’s market cap. BitBoy has even predicted that XRP could reach a price of $22 this season, corresponding to a market cap of $1.26 trillion. This fuels his optimism that XRP could surpass Ethereum.

Meanwhile, Armstrong does not predict that XRP will reach the same market cap as Bitcoin in the near future. Instead, he sees XRP gaining significant ground against Bitcoin, particularly in terms of dominance. This would result in greater returns for XRP holders compared to Bitcoin.

XRP Eating into Bitcoin Dominance 

As The Crypto Basic reported earlier, XRP’s November rally significantly impacted Bitcoin’s dominance in the crypto market.

Specifically, Bitcoin’s dominance dropped by 6%, with XRP contributing 3% to this decline. From November 3 to December 3, XRP’s price surged by over 450%, and its market cap grew more than fivefold, reaching $154.83 billion.

This led to a temporary dip in Bitcoin’s dominance, which fell to 52%, though it has since rebounded to around 60%. Armstrong expects this scenario to play out again into 2025.