XRP Could Challenge Bitcoin’s Dominance, Claims Analyst Charles Shrem
Charles Shrem, known for his YouTube channel Blockchain Backer, claims that XRP could potentially challenge Bitcoin's dominance. This statement comes amid XRP's fluctuating performance against Bitcoin.
XRP’s Performance Against Bitcoin
- XRP surged over 200% against Bitcoin from November 2024 to January 2025.
- Since February 2025, XRP has declined approximately 30% against Bitcoin.
- Bitcoin reached new all-time highs after February, while XRP has hovered around $2.
If it isn’t clear yet, XRP actually is a threat to Bitcoin.
— Blockchain Backer (@BCBacker)
Analyst Insights
- Shrem has indicated that Bitcoin supporters feel threatened by XRP's potential.
- He noted online conflicts where Bitcoin maximalists criticized XRP, suggesting it has significant backing.
Market Dynamics
- In January 2025, US President Trump signed an executive order regarding a digital asset stockpile, indirectly impacting the crypto space.
- XRP trades at about $2.19 with a market cap of $129.4 billion, while Ethereum stands at $295 billion.
- XRP would need a 135% rise to reach $5 and approximately 1,620% to match Bitcoin's market cap of $2.125 trillion.
Challenges Ahead
XRP faces significant hurdles in adoption and market presence. While Shrem's comments generate interest, the actual impact on XRP's market performance remains to be seen.