Bitcoin vs. Ripple Top Price Prediction: Flippening could be the result of this crypto crash
- All cryptocurrencies are falling, but some more than others.
- Ripple has shown its resilience and passed Ethereum in market capitalization.
- Can it surpass Bitcoin? The "flippening" could take some more time.
After an extended period of low volatility, cryptocurrencies began moving, and to the downside. Before the lull, we had a bit of instability in the summer. Bitcoin beat its peers and reclaimed a market dominance. The value of BTC exceeded that of all other digital coins combined.
And then came the November rains, sending all cryptocurrencies lower. But not all blockchain coins are born equal. After around a week from the moment BTC/USD hit the lowest in over a year, we can identify a few other phenomena. While Bitcoin Cash stood out with its hard fork and a 40% plunge in 24 hours, Ripple stood out with its resilience.
The technology used for bank transactions fell like all its peers but was able to weather the storm. Ripple's market capitalization passed that of Ethereum and claimed the second place in the list of digital coins, or No. 1 in Altcoins.
This chart by coinmarketcap shows how, in the course of a week, Ripple moved from below 10% market share, to 12.3% at the time of writing. This rise of roughly 25% in its dominance is significant and sets it apart from Etehreum which was left behind at 9.39% at the time of writing.
So, XRP is undoubtedly the king of Altcoins. Ethereum is now far behind.
However, this was not the first time it happened this year and did not gather too much attention.
Can Ripple take the next step and beat Bitcoin?
The so-called "Flippening" may be in the making, but could take some time. BTC's market cap remained on high ground during this time, and so did its share: 53.27% of the total, yet diminishing, the value of cryptocurrencies.
In absolute numbers, Ripple is worth around $18 billion while Bitcoin is valued at around $79 billion. Or back to relative terms: Bitcoin's value is more than four times that of Bitcoin, down from over five times the value last week.
Can the gap squeeze to three times the value, twice the value, Ripple and Bitcoin competing with each other and eventually Ripple dethroning Bitcoin?
It takes more than a leap in price but a leap of faith, but it cannot be ruled out. It seems like a continued sell-off of digital currencies will be needed to assist a potential change of the guard at the top of the crypto world.
More: Ripple's XRP Technical Analysis: XRP/USD saved by a double bottom
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
