Ripple's counterattack

ChrisLarsen 2025-9-29 20:02 12568人围观 XRP

On November 15, when the currency circle was paying attention to the fork of Bitcoin Cash (BCH), the low-key Ripple (XRP) counterattacked again, surpassing Ethereum (ETH) in market value and becoming the world's second largest digital currency.

First, of course, it is Bitcoin (BTC), the eternal leader in the currency circle.

Unlike most virtual currencies, which have halved or even fallen to the floor, Ripple has shown strong resilience in this round of slump. It has become the second largest currency in the currency circle for the third time, which can be regarded as "all relying on the support of its peers."

So why can Ripple currency "not fall" in the bear market in the currency circle? Does Ripple have any actual value? Can it drive the implementation of a new round of blockchain applications?

Today, we will talk about these topics.

Super veteran of the currency circle

Unlike other digital currencies that are "mined" by mining machines, XRP is issued by Ripple. Ripple was founded in 2004, four years before Satoshi Nakamoto released the Bitcoin white paper.

Ripple is the oldest digital currency in the world.

Since it was born before Bitcoin, the generation principle of Ripple is also different from other digital currencies. Unlike currencies such as Bitcoin and Ethereum, which all use verification algorithms, Ripple is a consensus protocol that requires validators to record and verify transactions without any incentives, and most of these validators are in the hands of Ripple.

It can be said that Ripple is a completely centralized currency. This seems to run counter to the idea of decentralization of blockchain technology.

So why is Ripple still so popular in the currency circle?

This has a lot to do with the positioning of Ripple.

Ripple has stated that the mission of Ripple is to solve the problems existing in cross-border settlement between banks. The Ripple network has become the world's first open blockchain payment network. Based on the Ripple network, individuals and institutions can transfer any currency in the world through Ripple currency, with fast confirmation time, high transfer efficiency, and low transaction fees.

Of course, XRP is also interchangeable with other digital currencies. In other words, Ripple is the link between digital currency and legal currency.

At present, more than 100 financial institutions in more than 60 countries have joined the Ripple network, including UniCredit Bank of Italy (UCB), Union Bank of Switzerland (UBS), Bank of America (BOA) and American Express (AE). World-renowned banks are all fans of the Ripple network.

The collapse of Ethereum

Speaking of Ripple fans, some people may say that there are also many fans of Ethereum, and many blockchain projects are settled in ETH.

What the editor wants to say is that it was this reason that led to the collapse of Ethereum's "personality" and the plummeting price.

After 1994, 1C0 was cool, and the project team cashed out and left the market, causing the price of ETH to plummet, from more than 1,000 US dollars at the beginning of the year to more than 100 US dollars now. Many project parties have also announced that they will no longer accept ETH, which has caused a big blow to the value of ETH.

The market is too impetuous, there are too few projects that can be implemented, and investors' recognition of ETH has been greatly reduced. “The "Ethereum Ecosystem" seems to be unable to develop.

On the Ripple side, the latest news is that Ripple Labs announced that it will launch a commercial version of xRapid. xRapid is a real-time settlement platform that accelerates cross-border payments to help enhance liquidity in cross-border settlements between international banks.

The function of Ripple is value transfer, and there are real and clear cases, but Ethereum has been abandoned by blockchain projects. Amid this ebb and flow, XRP's market value has surpassed ETH for a long time and has become unstoppable.

The battle for second place in market capitalization rankings

In fact, this is not the first time that XRP’s market value has exceeded ETH. The two have been fighting for the second place in digital currency market value for several years.

Take 2015, when ETH appeared, as the boundary. Prior to this, there were seven major digital currencies circulating in the currency circle, namely Bitcoin, Litecoin, Ripple, Aurora Coin, Peercoin, Namecoin, Earthcoin, etc.

During this period, the second largest market capitalization position was held by Litecoin most of the time. “The phrase “bit gold, lite silver” is the best portrayal of Litecoin’s solid status.

The sudden rise of Ethereum has broken this pattern.

When ETH appeared, the first Bitcoin bull market had ended, and popular currencies such as Namecoin, Peercoin, and Aurora Coin were declining. Ripple, on the other hand, has remained resilient due to its value transfer function and other reasons.

When rivals such as Litecoin and Yicoin fell from the altar, XRP and ETH started a tug-of-war for the second place in the currency circle. Due to space limitations, this article will no longer describe the back-and-forth between the two parties.

It is worth noting that Ripple did not sit in the second chair for long. Every time a lead is taken, most of them can only last for a week. (As shown below)

So can XRP suppress ETH for a long time this time? We'll see.

Can Ripple take on more responsibility?

As we have said before, the current value of Ripple is due to the recognition of its value transfer function by some banking institutions, while the value of Ethereum is mainly reflected in the collection of blockchain projects.

Let’s imagine that this battle for the second best in the currency circle will become a watershed in the value expression of both parties?

Perhaps after this, ETH will tend to return to zero, and XRP will play a greater role in the implementation of future blockchain projects and assume more responsibilities by virtue of cross-border payment and other functions.

Solemnly declare:

This article is just a simple sketch of the market value ranking dispute between Ripple and Ethereum. It does not constitute any investment advice, nor does it encourage everyone to buy Ripple. There are huge risks in the currency market, which most people cannot bear. It has nothing to do with us whether we get rich by speculating in currencies or rush into the street.

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