‘XRP Will Flip Bitcoin’: Ripple CTO Emeritus Schwartz Makes Bold Prediction

Kritika Mehta
Updated
Kritika Mehta

Kritika Mehta

News Writer & Journalist
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
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Ripple Former CTO Breaks Silence On Allegations of Selling XRP For Company Profit

Ripple CTO Emeritus David Schwartz said that he thinks that one day XRP will outpace Bitcoin in terms of market cap. He cited that such an XRP price surge could come soon if the XRP Ledger continues gaining traction. Moreover, the remarks coincided with a broad market sell-off and XRP spot ETFs being the only crypto funds to attract new funds.

Ripple CTO Emeritus Expects XRP To Flip Bitcoin

During an X space discussion, Schwartz was asked if he believed XRP has a chance to overtake Bitcoin. He feels that is possible, though not due to the drop in Bitcoin’s value.

“Yeah, I do,” Schwartz declared. He added, “But I think it wouldn’t happen from Bitcoin shrinking. It would happen from XRP growing faster than Bitcoin.”

He predicts that the digital asset sector is going to grow a lot more in the future. He says that, in that scenario, the top cryptocurrencies might all end up rising in value, instead of vying for market share.

Schwartz argued that the XRP Ledger could capture a greater share of that growth because of its technology. He referenced the fact that it is faster and more versatile than Bitcoin.

“The XRP Ledger gets more of that growth because of its higher functionality and or higher speed,” he said. Schwartz added that users may prefer features “that Bitcoin can’t support.”

Additionally, the Ripple CTO Emeritus stated that the crypto market may be much bigger in the future. That would allow more space for XRP to thrive along with a growing trend in the industry, he said.

He went on to add, “I honestly have to say, I think XRP surging is probably more likely than not.”

Ripple xrp bitcoin
XRP/BTC price chart today. Source: TradingView

Recent data from popular crypto tools show that the XRP/BTC was trading at 0.00001811, indicating a 0.28% gain at press time on Wednesday, September 9. This suggests that currently XRP is indeed outpacing the subtle gains recorded for Bitcoin today.

XRP ETFs Defy Crypto Market Weakness

Schwartz’s remarks came on the day when XRP investment products lagged behind the other crypto ETFs. Ripple XRP spot ETFs saw $1.55 million in net inflows on Tuesday. In crypto, they were the only crypto spot ETFs that saw positive investor flows for the day.

Whilst, Bitcoin spot ETFs recorded $46.65 million in net outflows, after a three-day period of inflows. The second major digital currency ETF, Ethereum ETFs experienced outflows of $24.29 million. Solana ETFs suffered a further $667,000 outflow, continuing a trend of losses.The Solana ETFs drained an additional $667,000, continuing the losses streak.

Meanwhile, no net flow was observed in DOGE and BNB ETFs on the day. Meanwhile, HYPE ETFs saw $12.96 million in outflows.

The ETF performance was a relief as the overall crypto market continued to be on a downward trend. The total crypto market cap declined by 0.33%, leading to the loss of approximately $8.88 billion. XRP, too, bounced back during the trading session, though, and saw renewed investor interest, as Bitcoin fell by 0.81%.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.