Cryptocurrency analyst Lee the Captain made a bold claim: he’d rather invest in Onyxcoin (XCN) than XRP. While emphasizing that his analysis isn’t financial advice, Lee presents a compelling case for XCN’s potential growth compared to its more established competitor.
Lee the Captain’s position isn’t a criticism of XRP’s fundamentals. Instead, he focuses on comparative growth potential, suggesting that XCN’s market dynamics make it more appealing for investors seeking significant returns. While acknowledging XRP as a strong project, Lee believes XCN offers better opportunities for short-term growth.
What you'll learn 👉
Onyxcoin (XCN) and Ripple (XRP) Price Potentials
When discussing price predictions, Lee the Captain sets an ambitious target of $25 for XCN during the bull run. This would represent a 94x return from current prices, resulting in an $8 billion market cap.
To put this in perspective, he compares it to Dogecoin’s 2021 peak market cap of $80 billion, arguing that $8 billion is quite reasonable for a project addressing real-world financial challenges.
Contrasting this with XRP, Lee points out a crucial limitation. For XRP to achieve the same 94x growth, its price would need to reach approximately $240, resulting in a $14 trillion market cap. “That’s seven times Canada’s entire 2023 GDP,” Lee emphasizes, highlighting the improbability of such growth within a six-month to one-year timeframe.
Lee the Captain explains that XCN’s lower market cap provides more room for growth, following the principle that “the lower something is, the more room it has to grow.” Interestingly, he suggests that XCN might actually benefit from XRP’s success, as crypto investors often diversify into related projects. When one blockchain project performs well, similar projects like XLM, XDC, and XCN often see increased interest.
Like XRP, Onyxcoin (XCN) focuses on revolutionizing financial services through blockchain technology. The project targets the $2 trillion payments market and the global trade and finance market, expected to reach $5 trillion by 2028. Lee notes that while both XRP and XCN address similar markets, XCN’s lower market cap offers a more attractive risk-to-reward ratio.
Lee the Captain acknowledges potential concerns about XCN’s smaller size but points to its listings on major exchanges like Coinbase, Kraken, and Gate.io as evidence of its legitimacy. “This isn’t some random micro-cap meme coin,” he emphasizes, noting the rigorous vetting processes these platforms employ.
Read Also: Here’s Why Lido DAO (LDO) Price Could Be Ready for Another Surge, Analyst
Accumulating XCN Tokens Gradually
Rather than making speculative trades, Lee advocates for gradual accumulation of XCN. He points to encouraging market conditions, including record-high cryptocurrency ownership exceeding 600 million users globally. With institutional investment increasing and Bitcoin and Ethereum ETFs gaining traction, Lee expects projects focused on payments and global trade to thrive.
While Lee the Captain maintains respect for XRP and its leadership under Brad Garlinghouse, he views XCN as a “miniature version of XRP” with superior growth potential. Though he doesn’t expect XCN to overtake XRP, he believes it offers better returns for the next six months to a year. As he concludes, “If I had to choose one project to put my money into for the next 6 months to a year, it would be XCN.”
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
