Bitcoin Forum

Data analysis by kaiko shows that  the XRP token currently have a higher trade volume in comparison with Bitcoin the data shows that XRP leads with 21% and Bitcoin 20%, the catalyst behind it's growth since last week was caused by the legal battle won by Ripple against the US SEC

Despite XRP taking the lead on trade volume, Bitcoin is still the the greatest coin with its current price over $30k and Ripple $0.73, by comparison the price of Bitcoin is way  too vast for dethronement

I still believe Bitcoin is the best coin ever and will continue to soar higher till there is nothing to dethrone or compare

Bitcoin marketcap is approximately $585 billion. https://www.coingecko.com/en/coins/bitcoin

Ripple marketcap is approximately $39 billion. https://www.coingecko.com/en/coins/ethereum

Is that comparable? Bitcoin is even 15 times more.

This is nothing new, plenty of times we have seen trading volumes of altcoins being higher than Bitcoin's (that's not to mention USDT, which constantly has its volume around twice as high as Bitcoin's).
As you said yourself, this is obviously driven by the recent news, and things are already returning to normal. Looking at the CMC right now, BTC's volume is over x3 times higher than XRP's. So the "dethronement" was very short-lived.

I'm my opinion, there's no need to use the word "dethrone ". Because an Altcoin like XRP managed to lead by 21% doesn't mean anything. According to what you said, if there was no legal battle, I don't think you'd be coming here to make this thread.
 It's very impossible for XRP to dethrone Bitcoin because it would have to increase like 50,000 times for such to happen. The more XRP coins available, the lower the value, so it's out of the question if BTC can be dethroned by it.

I think you underestimate bitcoin too much. Bitcoin has a market capitalization of up to 15x the XRP token. The only token that comes close to bitcoin is ethereum, but I believe that in the next 5 years, ethereum will not be able to beat bitcoin market cap either. XRP has high transactions due to the good news that the case with the SEC was won by XRP, but there is a possibility that the SEC will appeal

Maybe XRP is well priced now, but it's too early to judge XRP. The case battle between Ripple and the SEC is likely to continue. If the SEC doesn't appeal, or loses the appeal hearing, chances are XRP's price will be very good. This is a good time to speculate about XRP. But I'm not recommending anything else, the decision is yours

Where is the data that you're claiming that shows that when you're unable to provide a link to such, must you believe everything you read about on the internet to be true, i don't even expect you to say that of XRP compared to bitcoin when there are other cryptocurrencies far better in market cap than XRP, but yet they still follows behind bitcoin which is the leading cryptocurrency ever.


But you've just counter this from what you first posted from the first few lines of your content, maybe you should go through them again and see what you've said initially, even on altcoins discussion board this isn't discussed that they are far better or preferred to bitcoin, you can always make your own research too as well, everyone knows that bitcoin is the king of cryptocurrency

There are many people that wish to see bitcoin to be out of the leading position of this market, but as long as altcoins are created based on its technology then there is now way those coins are ever going to surpass bitcoin, if an altcoin want to surpass bitcoin then the developers behind it will need to create a lot of innovations and still make their project open source, as even if their coin was superior but their coin was privately owned then it will still be unable to surpass bitcoin, as the community will not leave bitcoin behind just to become part of a centralized project.

Because of XRP's short term trend means that BTC is dethroned just like that? Nah Nah!!

No one can dethrone Bitcoin and XRP will never be the one as the market capitalization gap is way far from each other. Bitcoin is the OG of all cryptocurrencies.

Without Bitcoin, XRP and other altcoins would have never existed.

@OP you could have verify the data first if the statistics is true. Besides you should give a link to the said statistics to support the claim.  As of the reply I checked the trading volume of Bitcoin and XRP and XRP is no way near the volume of Bitcoin in the market.  You can check the data from Coingecko (https://www.coingecko.com/) or coinmarketcap (https://coinmarketcap.com/) to see for yourself how the claim is somehow not true.

As I looked for the article I found that some sites had released the same statement but I believe @OP's post is somehow late for this for the event happens earlier though I am still in doubt of the credibility of the news since looking at coingecko and coimarketcap the statistics does not coincide with the claim of Kaiko.

Article stating XRP surpassing BTC trading volume:

https://cryptopotato.com/xrp-surpasses-bitcoin-in-terms-of-trading-volume-following-ripple-v-sec-win/

https://beincrypto.com/xrp-trading-volume-overtakes-bitcoin/

Op I think you should change your title as I believe replies are based on what your title is saying. There is no way to say an altcoin to dethroned bitcoin by how??
Despite the XRP winning a legal case with the SEC and the price increased by either 21% doesn't really show full expression to say that bitcoin has been dethroned. Btw bitcoin is what sustaining other altcoins by giving power to have a stable price balance, it bitcoin goes down all altcoin instantaneously dip down as well. So lets be careful with we say concerning bitcoin of altcoin to dethroned bitcoin which is something that may seems impossible to be achieved.

Trade volume for Bitcoin is a little low, but market cap will say whether the coin is leading or not. As for bitcoin with its less than 600 billion dollar market cap, carrying the whole industry with it by the way by constituting approximately 60% of the whole crypto industry's market cap, it will remain king for a while. Also need to consider the fact that a good reason why people aren't trading bitcoin anymore is because they saw fit to instead save and hold it! Which in most cases is more profitable than exchanging it for an altcoin with a lower market cap!

So when you say bitcoin is going to be dethroned in trading volume people wouldn't be surprised, it's how they intended it to be anyway. With market cap however, that is going to be a rather different and improbably story.

I don't use percentage increase to count on the value of a coin. It is normal that altcoins will have higher percentage than bit coin but for how long will it last. Just for a few days,bitcoin has a high market cap and is more valuable than this altcoins that the price can be manipulated.

The potential of bitcoin has made it a store of value but I don't think that XRP can be used for so many purpose like bitcoin. The price must have been manipulated by the owner or dev to make investors think that it is a good investment and people will fall for it by investing on XPR,it is only a hype. Bitcoin can never be dethroned because the price of other altcoins depend on bitcoin price movement.

It's not about the price it's about the trade volume!

That aside, I don't know where that data really comes from, coin gecko shows a spike but still now enough

XRP

vs BTC:


Also, quite funny, if we speak trade volume alone, tether has been constantly surpassing bitcoin but yet nobody speaks about "dethronement", Ethereum has surpassed BTC quite a few times in trade volume over the years and we're still here with the same number 1.

Trading volume. Trading volume! That doesn’t show how much the coin is used, it shows just how much money’s moved through exchanges.

How does Bitcoin’s usage compare to XRP’s? Is XRP increasingly being used more than BTC? Is there any sign of dominance? Trading volume is literally worthless especially when XRP just had very recently FOMO news. You see shitcoins having sometimes billions in volume, but then they just fall out and die. Does it show they’re dominating other coins? It doesn’t…

This is nothing and you can not compare anything here. Just because XRP won the fight against SEC does not make it better than Bitcoin. You can not dethrone something which has this much acceptance and this huge user base. SEC has told themselves, Bitcoin was never a security issue. So there was no fight between Bitcoin and the SEC, to begin with. And what is this Bitcoin dethronement you are talking about? Look at the leaderboard. You will get a clear preview of which one is leading the market.

Just having more trading volume won't make it better. Could be those who sold after hearing about the security issue is buying again. Who knows? Or people moving from those alts that are security towards XRP. That's all. This will make no difference. 

The Ripples network has come a long way to experience that lead but you won't compare it with Bitcoin despite leading it by one percentage they are not in the class at all and therefore cannot dream of dethroning Bitcoin in every possible way and angle you want to look at it from.

Market cap and trading volume is not what makes Bitcoin the top cryptocurrency, a coin can inflate its marketcap and also trading volume but that is not a reflection that it is a good investment option.

I own Bitcoin cause it's the most secure and decentralized cryptocurrency. If it was not the first crypto to be established and Bitcoin came later and is much lower on the market cap ranking, I will still opt for it.

The recent XRP rally was simply fueled by that news. XRP has been low on  the radar since the 2017 bull run. That's the only time XRP came close. At that time there was a popular slogan for an event termed the "flippening". Where either ETH or XRP were posed to flip bitcoin from the #1 spot. That's the one singular time that a lot of people actually believed the flippening movement and it didn't work. Xrp went into a spiral movement down and since hasn't been able to reach such heights. The effect from the hearing won't last for a very lomg time and certainly isn't enough to get it to the spot spot.

XRP is still very much centralized and has to be if it wants to continue servicing enterprise customers in it's use base.

This is just clearly defined, and it represents many views.
Despite the high profit rate of other coins besides BTC, investors with large capital would rather rest at ease knowing they have BTC and would only swap their BTC to the altcoins they want to trade or transact with. That is for those who have the knowledge of trading. Whereas, those who intend to HODL long-term or intend to DCA and don't want to be bothered about the market crashing and funds getting lost, use BTC more for its credibility.
 
BTC is also one of the first and biggest decentralized innovation for sometime now. It has led to opportunities opening up in areas of wealth creation, in that even countries has had to rely on its technology for economic sustainance, like El Salvador.
BTC has also been at the fore front of the crypto crusade and its number one campaigner.

BTC doesn't look like a coin getting dethroned anytime soon.

Can we even mine this centralized shitcoin called ripple? I really don't get it, why would people pay for something which they can't even mine? And some people are comparing head with toe, lol.

Boosting trading volumes for a specific period does not necessarily imply that XRP holds more potential than Bitcoin. In this particular instance, a surge in trading activity for XRP was driven by positive news, which attracted many traders seeking to capitalize on the opportunity and generate profits. However, this spike in volume should not be mistaken for a long-term indicator of XRP's superiority over Bitcoin. It was merely a response to the positive news event, and over time, the trading volume is likely to stabilize and return to normal levels.

I don't think this is the first time an altcoin is topping bitcoin with the highest trading volume. XRP having the highest trading volume, simply means it has the highest number of active buying orders been filled at the moment and shouldn't be used as a yardstick to judge the overall success of the coin. The right tool is the coin marketcap, I stand to be corrected but since Bitcoin came into the limelight as the world's largest cryptocurrency, no coin has taken over it place or "dethroned" it as the you put it with the highest marketcap. Bitcoin is still the king of cryptocurrency and XRP comes fourth after ETH and USDT by marketcap ranking.

This.

Trading volume for the week/day/month might indicate which coin has the attention of traders, but by no means does that mean that a coin (like xrp) is on its way to taking any throne.

The SEC case against Ripple went on for years and the result is very positive for them. Being labelled as a non-security while other altcoins/tokens are getting this label bounds it to gain popularity and increased volume for some time. Dethroning BTC though? I doubt it highly.

I can't imagine that Bitcoin would ever get dethroned, that said I never thought that Bitcoin recover after Gox back in 2013 or so. Here to be surprised.

Ok, XRP wins for its volume this time but then, what's next? Going back to the usual.

Definitely, it's not a question.

People should just stop comparison to Bitcoin and any other altcoin if it's about dethroning it. There's no possible way that an altcoin will dethrone it this time.

It has been discussed many times in the past and even during the altcoin seasons.

Yes, and that's why people must stop with such topics.

XRP is a shitcoin, just like all other altcoins. They are developed by a small team of people who only care about profit, and there's no incentive for them to actually create anything, because stupid people invest in their scam anyway. It doesn't matter what metric an altcoin can show today, be it trading volume or market share - in 10-15 years that coin will be dead and forgotten, and its developers will enjoy retirement in their multi-million mansions.

Thank you for the detailing, sometimes newbies are too funny trying to twist something you knows very well. I would have said how could XRP dethroned bitcoin and even as that from your comparison I don't see any similarities between them to say the XRP is even more than bitcoin. Tether did, yes that is true but no has spoken about.
I think this thread should be locked to avoid further spamming.

If only this would have had a deeper meaning, then we might have had reasons to think otherwise but, many at times, you find bitcoin leading and the rest just follows.

I'll also like to recount that every crypto battle one against government agencies isn't just about the particulate coin but goes the length to speak volumes for all cryptocurrencies and to say the least om the development with XRP,  its price is readily affordable when compared with bitcoin.
Somehow, people tend to forget that bitcoin comes in smaller denominations like the sat and that's readily affordable too.

OP I would want to correct this impression. Your choice of word at the first  stance was wrong and i believe that is the reason why this thread is as it is now. The word "Dethronement " as you have stated is very wrong to have been used. Yes we all know that there are likely some coin or shitcoin that are then higher than bitcoin in market capitalization but not any more. come to talk of it, which crypto currency do you think is in contention with the kingship of bitcoin over other cryptocurrencies? I was thinking you could list them but to my greatest surprise you just mentioned xrp which is nowhere to be found from the very first beginning of crypto inception.

I think a proper research could be good if in the case of next time so as not to contradict sensitive situation such as this. Because Bitcoin as i know can never be shortchanged with another not to talk of it loosing its position in the crypto industry.

Why would even this something like an opinion? This is a fact that everyone has to accept. Anyone who has the crave to compare Bitcoin with anything, there's a far reality from comparing it to XRP.

I wonder where are those projects that have the plan to dethrone Bitcoin before and claims that they're the next Bitcoin.

I think from being the next, they don't even in the line anymore because no matter how hard they try to say and claim it. It's never going to happen.

I gotta say that I am thrilled that they won against the SEC. Huge W for crypto as a whole. XRP to $10 is a bold prediction that I have heard, not saying that it's mine but it would be fascinating. I wonder if XRP hit 10 dollars what the market cap would be in comparison to BTC.....

Bitcoin is the best like you said but we all know how the prizes of Bitcoin goes up and down it doesn't mean it's losing its value, is never steady. So I won't say bitcoin will be dethroned at any point in time, today you have it at $29-30 the next 3 days you'll be having it at $32 so I think it can't be compared with any coin and it's the best like you rightly said.

That is without a doubt a bold prediction, I suppose the ones behind the prediction believe that since Ripple reached 3.4 dollars on the first days of 2018 and it failed to reach a new ATH due to the lawsuit it had to face, they are assuming Ripple would have reached roughly 7 dollars on 2021, and as such they are predicting 10 dollars for 2025, however this is going to be a difficult price to reach as Ripple has lost a lot of ground to bitcoin and ethereum over the last 5 years.

I'm on XRP's side because as you said, it's a win for the crypto market as well as a big win for XRP after so many years. But what madman could make that prediction for XRP? I even doubt it won't be able to go back to the old 2018 ATH it once hit, let alone that it can go further in the future. The altcoin market always evolves over time, in addition to ETH, old altcoins will always be replaced by newer altcoins. What is happening with XRP is just temporary hype, and things will soon subside once the whales have made enough profit from it.