XRP’s Growth and Market Position

XRP has experienced a 315% growth over the past year.
Ripple’s XRPL has outperformed Bitcoin, recording positive returns over the past 60 days.

Over the past five months, Ripple (XRP) has experienced a strong upward movement. Since the U.S. election in November 2024, XRP has surged to outperform most altcoins, positioning it favorably to challenge its largest rival, Bitcoin (BTC).

In fact, over the past 60 days, the market has seen only 3 out of 57 altcoins outperform Bitcoin, with XRP being one of them. As such, XRP has recorded the most gains among altcoins against Bitcoin. While others have recorded negative performance against BTC, XRP has achieved positive returns over the past 60 days, contrasted with BTC’s negative return of -8.39%.

Most altcoins have underperformed, with many down 30-60% against BTC. For instance, at press time, large altcoins such as Ethereum (ETH) were down by 38%, Solana (SOL) by 31%, and Dogecoin (DOGE) by 48% against BTC. This significant disparity in performance indicates the strength and influence that XRP now holds in the crypto market.

XRP’s Position in the Market

The recent performance of XRP is not isolated, as the altcoin has shown strong growth in its fundamentals over the past six months.

For starters, XRPL’s total addresses have constantly grown over the past year, increasing from 5.5 million to 6.7 million at press time—a surge of 1.2 million addresses. In contrast, Bitcoin saw only a 100k addresses increase during the same period, indicating XRP’s aggressive adoption rate over BTC.

Additionally, XRPL’s Circulating Marketcap Dominance has grown significantly, rising from 1.09% to 5% over the past year. This increase saw the altcoin’s market rally from a low of $23 billion to a high of $188 billion, surpassing coins like SOL and USDT. The rally was accompanied by a price increase of 315%.

While BTC has also grown over the past year, its price has risen by only 35% and its market cap by 54.5%. This strong growth in market dominance for XRP illustrates a substantial capital inflow from both retail holders and large entities.

Can XRP Surpass BTC?

While overtaking Bitcoin may seem ambitious, XRP is on the right track for sustained market dominance. As legal hurdles continue to diminish, XRP’s growth may position it to challenge Ethereum (ETH), potentially becoming the largest competitor to BTC. Current conditions seem favorable for sustained growth in XRP’s future.

In the short term, achieving this goal appears unlikely due to the uncertain macroeconomic environment affecting the crypto market. Therefore, XRP’s immediate targets are to reclaim its all-time high (ATH) of $3.8, reach $4, and surpass a $200 billion market cap. Until these ambitions are realized, BTC will continue to lead as the prime competitor.