XRP Poised to Overtake Bitcoin as Top Cryptocurrency, Says Former Ripple Executive

In a recent episode of the Mr. M podcast, former Ripple executive Matt Hamilton voiced strong confidence that XRP could soon surpass Bitcoin as the leading cryptocurrency.

He reminisced about the time in 2018 when XRP held the top market position, exceeding Bitcoin’s market cap and overshadowing Ethereum.

Hamilton underscored several advantages that XRP possesses over Bitcoin, particularly its speed and scalability. He noted that while Bitcoin is often referred to as “digital gold,” its slower transaction speeds and outdated technology limit its practical use for everyday transactions. In contrast, XRP can process transactions in mere seconds and manage a high volume of activity without performance issues, making it a more viable option for scaling up.

Although Hamilton acknowledged Bitcoin’s decentralized nature, he expressed concern over its growing influence from major financial institutions, which he believes contradicts its original mission to disrupt traditional banking systems. He pointed out that rising transaction fees and diminishing mining rewards could alienate smaller users, creating a barrier to entry for those looking to participate in the Bitcoin network.

READ MORE:

Cardano Primed for a Major Upsurge as Analyst Predicts Significant Price Movement

Furthermore, Hamilton emphasized XRP’s potential as a bridge currency for central bank digital currencies (CBDCs), arguing that its infrastructure is better suited for practical, everyday use compared to Bitcoin. He also highlighted Ripple’s recent initiative aimed at the rapidly expanding $20 trillion custody market, which seeks to facilitate institutional adoption of digital assets. This guide is designed to assist banks in developing effective custody solutions, showcasing Ripple’s commitment to expanding its footprint in the financial landscape.

With Ripple experiencing a remarkable 250% year-over-year growth in custody services, Hamilton remains optimistic about XRP’s trajectory as a major player in the cryptocurrency market. As institutional interest continues to grow, many industry observers believe that XRP’s utility will propel its rise, potentially enabling it to outpace both Bitcoin and Ethereum in the coming years.

Alexander Zdravkov