Ripple has shown strength and consistency for many years. Even when it was having legal issues, the crypto continued its position in the top 10 ranks. Some analysts, like Matthew Perry, even think that the token could become the number one crypto in the world.
Cryptocurrency analyst Matthew Perry made bold claims about Ripple (XRP) saying the the crypto isn’t just going to surpass Ethereum, it’s actually going to compete with Bitcoin for the top spot in crypto.
Perry thinks most people just don’t get how close XRP is to becoming the second-biggest cryptocurrency out there. He calls it “insane” that Ripple might soon be right behind Bitcoin, pushing past the current runner-up, Ethereum.
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XRP Price Could Skyrocket as Ripple Climbs the Ranks
“XRP will eventually become the number one cryptocurrency in the world,” Perry says with total confidence. He won’t commit to exactly when this might happen, this year, next year, or further down the road. However, he’s absolutely sure “it’s going to happen.”
Looking at the numbers, XRP currently sits at a $130 billion market cap, way behind Bitcoin’s massive $1.8 trillion. But Perry points out that XRP price has already jumped 303% in the last year, even with a 10% dip last month.
Perry gets excited when he talks about how XRP occasionally trades places with Tether in the rankings. For XRP to flip positions with a stablecoin like Tether is already a “huge accomplishment” in his eyes. With $5.8 billion in daily trading volume, Perry believes the Ripple price has tons of room to grow before it even reaches its previous all-time high of about $3.40.
Why Ripple Beats Bitcoin According to Perry
Here’s where Perry really makes his case. He breaks it down simply: XRP is just more useful than Bitcoin in the real world.
“Bitcoin takes like 15 minutes for transactions. Who wants to wait that long?” Perry explains. “XRP gets it done in seconds, uses way less energy, and costs practically nothing to send.”
He says Bitcoin is still popular because it’s like digital gold, something governments and big institutions hold onto as a store of value. But Perry thinks as people focus more on actually using crypto day-to-day, Bitcoin’s going to lose its grip on the top spot.
Read Also: How Much Could $2,000 in Ripple (XRP) Be Worth at the Peak of the Bull Run?
Perry compares it to how we stream content online now. “We can send videos instantly to billions of people around the world. Shouldn’t our money move that fast too?” That’s where XRP comes in: it’s built for a world where value needs to move as quickly as our information does.
Perry admits he used to worry about the SEC lawsuit against Ripple, but now he thinks those fears were overblown. His faith in XRP has only gotten stronger, and he’s convinced it’s just a matter of time before it claims the #1 spot in crypto.
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