- Will XRP flip Bitcoin? The former’s price surged by over 17% in the last 24 hours.
- It has now registered a six-year high with the current trend.
As the cryptocurrency market continues to heat up, XRP is showing significant strength, with its price surging to $2.31 and on-chain activity reaching new highs.
The conversation around whether XRP could challenge Bitcoin’s [BTC] dominance this cycle is gaining momentum, supported by bullish price action and increasing market activity.
But can XRP truly flip Bitcoin, or is this just speculative hype?
Can XRP flip Bitcoin?
The Ripple chart showed a powerful rally in recent weeks, with XRP breaking past multiple resistance levels to trade at $2.31.
The 200-day moving average (MA) at $0.62 and the 50-day MA at $0.87 confirmed a bullish crossover, signaling a sustained upward trend.
The MACD (Moving Average Convergence Divergence) reflected this momentum, with the MACD line sitting significantly above the signal line at 0.36.
However, the Relative Strength Index (RSI) at 93 indicated that XRP was overbought at press time, making a short-term correction likely before further upside.
Source: TradingView
AMBCrypto also noted the correlation coefficient (CC) of 0.66 between XRP/USD and Bitcoin/USD.
While XRP and Bitcoin are moving in the same direction for now, the divergence in momentum indicates that XRP could decouple from Bitcoin, which is critical for a potential “flippening.”
Bitcoin dominance and transaction volume
Per AMBCrypto’s analysis of data from CoinMarketCap, Bitcoin’s dominance has fallen from 58.9% last month to 55.7%, signaling an altcoin resurgence led by XRP.
Historically, Bitcoin dominance tends to decline during bull cycles as liquidity shifts to altcoins, allowing projects like XRP to gain market share.
Source: CoinMarketCap
However, Bitcoin still commands significantly higher transaction volumes than XRP. The latter’s transaction volume spiked to $8.8 billion on the 1st of December, the highest in months.
However, despite the spike, it could not reach the $13.25 billion recorded by BTC. As of this writing, Bitcoin’s transaction volume reached $7.95 billion, compared to XRP’s $2.42 billion.
Source: Santiment
XRP network activity shows growth
Despite Bitcoin’s dominance in transaction volume, XRP’s on-chain activity surged. Daily active addresses on the XRP Ledger have seen a significant spike, indicating rising participation and usage of the network.
Realistic or not, here’s XRP market cap in BTC’s terms
Market sentiment around XRP is overwhelmingly positive, with social media mentions and discussions trending upward.
However, to truly flip Bitcoin, these metrics will need to see more spikes and be able to maintain the momentum. The king coin remains dominant, and XRP remains one of its challengers.
