Bitcoin remains the largest cryptocurrency by market capitalization at roughly $1.55 trillion, while XRP is valued at about $87 billion, leaving an 18-fold gap. Ripple executive David Schwartz says XRP could eventually overtake Bitcoin, but only if the broader crypto market expands dramatically and XRP adoption outpaces Bitcoin’s growth. His scenario does not depend on Bitcoin collapsing. At today’s supply, matching Bitcoin’s current market cap would require XRP to trade near $24–$25, up from $1.40. XRP was closer to Bitcoin’s capitalization in early 2018, but the ratio has since fallen to about 5%–6%.
During a recent X Spaces discussion, longtime Ripple executive and XRP Ledger architect David Schwartz said he believes it is possible for XRP to surpass Bitcoin by market capitalization. He said such a scenario would not come from Bitcoin deteriorating but from significantly different market conditions.
Schwartz described a broader crypto market that is dramatically more successful, with XRP growing faster than Bitcoin because of the XRP Ledger’s functionality, adoption, and real-world usage. Ethereum was previously the altcoin most often discussed as a possible Bitcoin challenger, but that flippening never happened.
At current prices, Bitcoin’s market capitalization stands at about $1.55 trillion, while XRP’s is roughly $87 billion. That makes the current market leader about 18 times larger than XRP.
If Bitcoin’s valuation remained unchanged, XRP would need a market capitalization near $1.55 trillion to catch up. At today’s circulating supply, that would require a price of roughly $24 to $25, compared with XRP’s current $1.40.
Schwartz’s scenario makes that hurdle larger because he does not expect Bitcoin to remain static. Instead, he noted that the entire crypto market could expand exponentially, meaning Bitcoin would likely continue appreciating as well.
XRP has been closer to Bitcoin’s market cap before. In early 2018, XRP’s market cap reached about $120 billion after rising to its then-all-time high, while Bitcoin’s stood around $250 billion to $260 billion.
At that time, XRP was worth almost 50% of Bitcoin’s market cap. Today, that ratio is down to roughly 5% to 6%.
