Will Ripple’s XRP become the new standard in the crypto universe?

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.

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.

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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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com

Rene Peters

Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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