XRP could eventually overtake Bitcoin by market capitalization, according to former Ripple CTO David Schwartz. But while the statement has energized XRP supporters, the numbers show that such
XRP could eventually overtake Bitcoin by market capitalization, according to former Ripple CTO David Schwartz.
But while the statement has energized XRP supporters, the numbers show that such a flipping would require a major expansion in the token’s value and adoption.
During an X Spaces discussion on Sep. 9, Schwartz was asked whether he genuinely believed XRP could surpass Bitcoin.
He answered in the affirmative, while making an important distinction: XRP would need to grow faster than Bitcoin rather than depend on Bitcoin losing value.
The argument rests on the possibility that the wider digital asset market will continue expanding.
In that scenario, both assets could rise, while XRP captures a larger share through the XRP Ledger’s speed, transaction capacity, and payments-focused use cases.
A similar outcome occurred in early 2018, when XRP briefly became the second-largest cryptocurrency by market cap, as reported by CNBC. However, its market value reached only around 40% of Bitcoin’s cap at the time, compared with roughly 5.6% today.
The current market gap makes the prediction difficult to achieve. Currently, Bitcoin's market cap stands at approximately $1.54 trillion, while XRP's is near $86.8 billion. That leaves Bitcoin about 18 times larger by value.
With roughly 62.7 billion XRP tokens in circulation, XRP would need to trade near $24.60 to match Bitcoin's current market cap, assuming Bitcoin's valuation remains unchanged.
If Bitcoin rises, the required XRP price would move even higher. The calculation is therefore not a price target, but a measure of the scale of growth XRP would need.
Schwartz's comments describe a long-term possibility, not an imminent forecast. For XRP to flip Bitcoin, stronger institutional demand, wider network usage and sustained market expansion would all be necessary.
At the time of writing, Bitcoin and XRP were trading at $77,250 and $1.35.
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