Weiss Ratings claim that Ripple's XRP will surpass Bitcoin by market value, being currently the third largest coin with a market capitalization $14.8B and an average daily trading volume of about $500M.
Specifically they emphasize that: "Payment networks tend to have a higher value to society than stores of value. That’s why we expect payment networks like #XRP to take over #BTC in terms of market cap in years to come – not necessarily 2019. #crypto #bitcoin #altcoins," the company wrote in its Twitter account" (source: twitter.com/weissratings).
Based on the the strength to weakness ratio of the two coins, we see that XRP is much more aggressive with its bullish runs than BTC but also declines more on its bearish sequences than BTC. However the rate of XRP's bull runs is greater than the advantage BTC has on its bear runs. Notice that while BTC bottomed to its mid September 2017 value, XRP did so to its mid December 2017 and is since consolidating.
Although the above showcase the strong foundation of XRP, we cannot go as far as Weiss and claim that Ripple's payment network (cap of traditional networks is in the billions) can overthrow Bitcoin's store of value (cap of traditional store values is in the trillions). History has shown that store of value is generally more durable and can be even more so on a highly skepticistic market as an early disruptor as the cryptocurrency market is.
We gladly welcome your thoughts on this one.
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Specifically they emphasize that: "Payment networks tend to have a higher value to society than stores of value. That’s why we expect payment networks like #XRP to take over #BTC in terms of market cap in years to come – not necessarily 2019. #crypto #bitcoin #altcoins," the company wrote in its Twitter account" (source: twitter.com/weissratings).
Based on the the strength to weakness ratio of the two coins, we see that XRP is much more aggressive with its bullish runs than BTC but also declines more on its bearish sequences than BTC. However the rate of XRP's bull runs is greater than the advantage BTC has on its bear runs. Notice that while BTC bottomed to its mid September 2017 value, XRP did so to its mid December 2017 and is since consolidating.
Although the above showcase the strong foundation of XRP, we cannot go as far as Weiss and claim that Ripple's payment network (cap of traditional networks is in the billions) can overthrow Bitcoin's store of value (cap of traditional store values is in the trillions). History has shown that store of value is generally more durable and can be even more so on a highly skepticistic market as an early disruptor as the cryptocurrency market is.
We gladly welcome your thoughts on this one.
** If you like our free content follow our profile (tradingview.com/u/InvestingScope) to get more daily ideas. **
Comments and likes are greatly appreciated.
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Telegram: t.me/investingscope
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
investingscope.com
Over 65% accuracy on Private Signals Channel.
Over 15% return monthly on our Account Management Plan.
Account RECOVERY services.
Free Channel: t.me/investingscopeofficial
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.