Crypto analyst Dark Defender has sparked intense debate, claiming that XRP could soon surpass Ethereum in market cap, and possibly even challenge Bitcoin’s dominance. The analyst highlights key factors, including regulatory clarity and Ripple’s expanding partnerships, that he believes set XRP on a path to eclipse Ethereum.
XRP vs. Ethereum: The Battle for Second Place
Dark Defender, a prominent crypto analyst, recently shared insights suggesting that XRP, the cryptocurrency associated with Ripple, could surpass Ethereum in market cap during this cycle. His argument stems from recent regulatory clarity, favorable partnerships, and XRP’s expansion into central bank digital currencies (CBDCs).
The prediction may sound bold, given that Ethereum currently holds a market cap of $365 billion, far above XRP’s $31 billion. However, Dark Defender argues that several unique advantages position XRP for a potential flip.
Regulatory Clarity Boosts XRP’s Appeal
One of Dark Defender’s key points is Judge Analisa Torres’ ruling that XRP is not classified as a security. This distinction, according to the analyst, gives XRP an advantage over Ethereum, which has faced legal questions over its own initial coin offering (ICO). He contends that XRP’s regulatory clarity could increase investor confidence, allowing it to gain ground over Ethereum.
Dark Defender asserts that “XRP’s non-security status positions it uniquely among other cryptocurrencies,” which he believes could drive adoption from both retail and institutional investors seeking clarity in an uncertain regulatory environment.
Ripple’s Strategic Partnerships and CBDCs
The analyst also emphasizes Ripple’s network of partnerships, which has grown to include central banks, payment providers, and financial institutions. While Dark Defender did not name specific partnerships, Ripple’s recent approval by the Dubai Financial Services Authority (DFSA) to expand payment services in the UAE underscores its global reach.
Ripple is reportedly exploring the creation of a Dirham-backed stablecoin for the UAE, adding to its existing projects with CBDCs and stablecoins. Dark Defender believes these developments could drive demand for XRP as an international payment solution, further narrowing the gap with Ethereum.
A Potential Bull Run Fueling XRP’s Price Surge
Dark Defender also hinted that a new XRP bull run could start as early as November 24. He cited indicators, such as Bitcoin’s Relative Strength Index (RSI) reversal, which often precedes altcoin rallies. The analyst pointed to XRP’s performance in January 2021, when its price surged from $0.170 to $1.966 following a similar setup.
Another crypto analyst, Mikybull Crypto, also echoed this optimistic outlook for XRP, suggesting a strong rally based on past election cycles. His analysis, accompanied by a chart, indicated a target price of $19 for XRP, should the momentum continue.
Could XRP Also Overtake Bitcoin?
While Dark Defender’s primary prediction is about XRP surpassing Ethereum, he didn’t stop there. The analyst hinted that XRP could even compete with Bitcoin, arguing that XRP’s regulatory status and Ripple’s institutional backing give it a unique advantage. Unlike Bitcoin, whose non-security status has been confirmed by SEC Chair Gary Gensler, XRP has a well-defined regulatory path, which the analyst suggests could make it more attractive to conservative investors.
Despite these bullish views, many remain skeptical of XRP’s ability to dethrone Bitcoin. Bitcoin’s brand recognition, capped supply, and first-mover advantage position it as the premier “store of value” asset, a status that XRP would struggle to displace.
The Challenge Ahead for XRP
Despite the analyst’s optimism, XRP faces significant challenges in surpassing Ethereum, let alone Bitcoin. Ethereum’s established ecosystem, extensive developer support, and dominance in decentralized finance (DeFi) create a strong barrier. Ethereum remains the preferred platform for most blockchain applications, from NFTs to smart contracts, areas where XRP has little presence.
XRP’s growth trajectory will largely depend on Ripple’s ability to execute its ambitious vision and expand into new markets. While regulatory clarity and partnerships strengthen its case, overcoming Ethereum’s dominance and potentially challenging Bitcoin’s position will be a tall order.
Dark Defender’s forecast for XRP presents an ambitious vision, with regulatory clarity and Ripple’s global partnerships as core drivers. However, XRP’s path to flipping Ethereum—and especially Bitcoin—will require continued momentum, broader adoption, and perhaps some favorable market conditions. For now, the crypto world is watching closely to see if XRP’s price can achieve the ambitious goals set by its supporters.
