Bitcoin dethronement

[The Cryptovator]

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.

[sokani]

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

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.

[BenCodie]

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.

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.

[Cryptopher]

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.

[livingfree]

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

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

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

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.

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

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

[hatshepsut93]

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.

[Adbitco]

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.

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

2023-07-15   $37,918,177,999   $5,758,002,015   $0.719679   $0.713256
2023-07-14   $42,784,396,921   $11,251,096,256   $0.812509   $0.719679
2023-07-13   $24,756,292,151   $613,551,700   $0.471376   $0.812509

vs BTC:

2023-07-15   $588,107,447,250   $21,977,151,421   $30,312   $30,298
2023-07-14   $610,725,509,599   $21,254,274,346   $31,446   $30,312
2023-07-13   $590,629,381,261   $13,072,555,444   $30,407   $31,446

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.

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.

[Mr.right85]

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

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.

[CryptSafe]

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.

[boyptc]

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

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.

[tread93]

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.....

[Sexylizzy2813]

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

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.

[Silberman]

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.....

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.

[laurenB7742]

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.....

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.