An analyst explains how Ripple’s XRP is positioned to overtake Bitcoin in the crypto market. According to @24hrscrypto1, a crypto analyst on Twitter, XRP is destined to overtake Bitcoin’s market dominance based on its strong utility and regulation-friendly approach.
In a recent thread, the analyst pointed to a quote from 2013 by Stefan Thomas, Ripple’s former CTO, that highlighted Ripple’s focus on compliance from the start: “Ripple put money into the system through so-called gateways, which should allow regulators to monitor transactions more easily.”
As the analyst explained, “Ripple came into this wanting to set guardrails. 2024 is going to be a monumental moment.” He believes Ripple’s willingness to work within regulatory frameworks gives XRP better prospects in the long run.
XRP’s Real-World Use Cases
A key advantage for XRP is that it is designed for real-world use cases beyond just a store of value. The analyst tweeted: “The world is not ready for this utility driven marketcap. Take a look at this snapshot from 2013. Out of 32 coins, only three have survived.”
XRP aims to solve liquidity problems in global payments by allowing financial institutions to transact directly without intermediaries. It offers faster transaction speeds and lower costs compared to traditional cross-border payments.
Major financial players like MoneyGram and SBI Remit are already using Ripple’s payment infrastructure for global transfers. As more institutions adopt XRP for liquidity, its utility will continue to grow.
Outlook for Overtaking Bitcoin
In conclusion, the analyst makes a bold prediction that XRP will certainly overtake Bitcoin’s top position, thanks to its real-world utility and regulation-friendly approach.
As he says, “Know what you hold” – in reference to the strong utility case for holding XRP as it sees greater adoption worldwide going into 2024 and beyond.
With major institutions recognizing XRP’s advantages over other cryptocurrencies, it appears only a matter of time before “this utility driven marketcap” leads it to overtake Bitcoin. The crypto markets still seem underprepared for the worldwide momentum Ripple is quietly building behind XRP.
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