Could XRP be an Alternative to Bitcoin? Analyst's Striking Statements

Crypto analyst Blockchain Backer stated that XRP could emerge as a potential competitor to Bitcoin. The XRP price, which rose by about 5% in the last 24 hours, is showing positive signals in technical indicators as the BTC-XRP competition has come back to the forefront.

"Attacks on XRP Stem From Its Being Seen as a Threat"

Blockchain Backer emphasized in X (formerly Twitter) posts on June 24 and 26 that XRP has not been explicitly mentioned in various regulatory documents for a long time. However, he noted that some Bitcoin advocates consider XRP a hidden threat. The analyst suggested that "the attack started for this reason. They know," asserting that XRP is perceived as a direct threat to Bitcoin.

These statements have drawn more attention alongside the recent rise in XRP's price. According to CoinGecko data, XRP rose to $2.20 with an increase of over 5% in the last 24 hours, while Bitcoin only increased by 0.1% during the same period and remained flat at $107,364.

While BTC still maintains its leadership in terms of market cap (approximately $2.13 trillion), XRP ranks fourth with a market cap of $129.5 billion.

Technical Indicators Turn in Favor of XRP

TradingView data shows that XRP has formed a strong technical structure in the short term. The RSI and MACD indicators on the daily chart produce "buy" signals, while moving averages are also trending upwards. The technical analysis summary indicates that both oscillators and trend-based indicators show that investors are leaning more towards buying positions.

In addition, XRP's daily trading volume exceeds $2.6 billion, while its circulating supply is at 59 billion. The maximum supply of XRP is limited to 100 billion. This indicates that the price may continue to move upwards in line with the current supply-demand balance.

XRP vs Bitcoin: A Competition Beyond Price

Blockchain Backer argues that XRP and Bitcoin should be compared not only in terms of price but also in functionality. Among the standout advantages of XRP are:

Fast transaction times

Low energy consumption

There is ease of use in cross-border payments.

On the other hand, Bitcoin maximalists believe that BTC's:

High network security

Decentralization

It emphasizes its superiority with features like deep liquidity.

These discussions reflect the ongoing technological and philosophical divergence between projects with different visions in the crypto market.

Conclusion: XRP's Rise is Not Limited to Price

XRP's recent rise is based not only on technical factors but also on a change in market perception. While Bitcoin's status as an "alternative to gold" continues, XRP is also coming under the radar of more investors and analysts with its vision of a "fast and efficient payment infrastructure."

In the new era, the competition between these two crypto giants seems to continue to shape not only in price charts but also in blockchain use cases and their roles in the global financial system.


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