As has been the case for the last couple of weeks, XRP (XRP) has been flip flopping with Ethereum in taking the number 2 position. This started after news of XRapid going live emerged a short while back.
However, this competition for the number two position won’t last for long. That’s because SWELL 2018 kicks off in 24 hours, and it widely expected that some big news will be announced during this event. There is a good chance that ripple will announce the banks that are going live with XRapid during this event. If this happens, then the FOMO buying that will kick in could see XRP cement its position at the number two position. XRP gained by over 60% when news of XRapid possibly going live came up. In essence, once the announcement is made officially, XRP could push to over $1 in a very short time. This would see it create a huge gap between its market cap and that of Ethereum (ETH).
But it’s not just Ethereum (ETH) that XRP has the potential to dethrone. Once XRapid goes live, there is real possibility that it could also challenge bitcoin for the top spot. Since news of XRapid going live came out, XRP has not been trading in tandem with BTC. It has consistently shown strong growth, even as bitcoin (BTC) lags at around $6300 – $6500. Anyone who invested in XRP since the 21st of September has made higher gains as compared to having put their investment in BTC. XRP trading independently of BTC could mark the first step in the decoupling process, and could easily see it become the number one crypto by market cap.
The reason why XRapid going live is such a big deal is because ripple is taking aim at one of the most critical aspects of the banking industry, and by extension the world economy. XRapid will lead to a scenario where banks can facilitate cross-border transfers in a matter of seconds. This will by extension increase the speed with which, trade happens in the world economy. It’s a trillion dollar market, one which could see XRP rise to triple digit valuations as the magnitude of it all gets priced in the market. If XRP pushes to such high valuations, then it would become the number one crypto in the world by market capitalization, outpacing bitcoin by a huge margin.
Besides, if XRP dominates the cross-border payments market, there is a real chance that it could also become the future of money. Ripple already has people in key institutions such as the federal reserve faster payments task force, which means that it could be a viable upgrade to the dollar.
In essence, a future where XRP is the number one crypto is very much within the realms of the possible. This journey to the top will start tomorrow, depending on the weight of what will transpire in the event that kicks off in San Francisco. This event will determine whether XRP takes over and retain the number 2 position, and take aim at bitcoin next. It’s will be an interesting Q4 for XRP investors.