The continuing price slump raises many new questions as to whether Bitcoin will remain the world’s leading cryptocurrency in the long term. XRP recently surpassed Ethereum by a wide margin, following a rapid rise in prices in recent weeks. Some XRP supporters even consider it realistic that XRP will replace Bitcoin next year.
Almost all digital currencies in the top 20, except Tether, are posting double-digit losses. Bitcoin Cash was hit particularly hard after the Bitcoin Cash Hard Fork became a thorny issue. Only XRP “relatively” coped well with the price drop and moved sideways with a plus of 0.38 percent within the last 24 hours.
Very obvious this will be our new crypto standard.
Hard to accept for many but so was bitcoin back in 2010
— ??????? ? 01 (@Crypto_Bitlord) November 18, 2018
— FirePower (@FirePowerFP) November 17, 2018
Due to these events, XRP bulls are driven to ask themselves whether XRP can become the new standard in cryptospace. Fans of the currency have already spoken out in favor of the introduction of XRP as a base currency on one of the world’s largest exchange markets, Binance.
Ripple critics still see open questions as to whether XRP should be classified as a security. In this process there is still no final judgement, so this heated discussion will continue to draw attention on the international stage.
For XRP not to be a security, it will need to be a real utility offer. IF something is exchanged with expectations of profit, it is not a utility token.
XRP is a tradable good that is sold under the expectation of profit. That in itself makes it a security.
— Dr Craig S Wright (@ProfFaustus) November 18, 2018
The performance of XRP defies the current market trend and the previously stable Bitcoin continues to lose market capitalization. However, it is too early to claim that XRP will replace Bitcoin. The adoption of XRP in the banking sector is increasing weekly, but XRP must be equally introduced as a base trading pair on many crypto exchanges for XRP to replace Bitcoin in the long run.
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